ANNOUNCEMENT 08 Apr 2019
The Argentine Government increased the price of biodiesel purchased by oil companies from local producers.
NUMBER OF INTERVENTIONS
InfoLeg. Ministerio de Hacienda. Subsecretaría de Hidrocarburos y Combustibles. Disposición 23/2019. Available at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/320000-324999/321886/norma.htm
InfoLeg. Ministerio de Hacienda. Secretaría de Gobierno de Energía. Resolución 24/2019. Available at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/315000-319999/319617/norma.htm
On 8 April 2019, the Ministry of Treasury of Argentina has adopted Disposition 23/2019 increasing the price of biodiesel that oil companies have to pay to biodiesel producers.
The new price has been increased from ARS 27,660 (USD 632.65 at the time of the announcement) to ARS 28,734 (USD 657.22 at the time of the announcement) per tonne.
Due to the compulsory requirement to use at least 10% of biodiesel in fuel blends locally produced imposed via Resolution 390/2014, this increase in the prices of biodiesel suggests that this intervention is intended as a price support to domestic biodiesel producers.
The new legislation has a retroactive character and it applies for sales made as of 1 April 2019.