Argentina: Biofuels Annual

With a new government in place since December 2023, the biofuels sector is projected to move on to a freer business environment through less limitations and official controls. Changes are expected to come through a new biofuels law or reforms to the current one in place since 2021. Bioethanol consumption in 2024 is projected at 1.12 billion liters, unchanged from the previous two years. A higher effective blend rate offsets lower gasoline sales. Roughly 60 percent of production is expected to be supplied by corn ethanol with the balance by the sugar industry. Bioethanol trade is forecast to remain minimal. Production of biodiesel in 2024 is forecast at 1.65 million liters, 75 percent higher than 2023 because of larger domestic consumption and exports. An increase in the effective blend at 6 percent is expected to more than offset a drop in domestic diesel sales. Biodiesel exports are projected up at 800 million liters, with nearly all exports headed to the EU.