ANNOUNCED AS TEMPORARYNo
On 2 August 2019, the Finance Ministry of Argentina has adopted Disposition 149/2019 increasing the price of sugarcane-based and maize-based ethanol used in fuel blendings for automobiles. The new prices have increased from ARS 24.916 (USD 0.56 at the time of the announcement) to ARS 25.663 per litre (USD 0.57 at the time of the announcement), and from ARS 22.564 per litre (USD 0.50 at the time of the announcement) to ARS 23.241 per litre (USD 0.52 at the time of the announcement) respectively.
Due to a local content requirement imposed via Decree 543/2016 (please, see related state acts), the changes in the prices of bioethanol that are compulsorily included in automobile fuels produced in Argentina, suggests that this type of interventions are intended as a price support to domestic ethanol producers.
The new legislation has a retroactive character and applies as of 1 August 2019.
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