Argentina to raise its biodiesel exports to EU

 

Argentina to raise its biodiesel exports to EU

Bio-diesal has great demand in the global market. A biodiesel is a renewable, biodegradable fuel. It is produced from animal fats, vegetable oils or waste residues. It is an eco-friendly option as compared to other fuels. Argentina is slowly gaining ground in the global biodiesel market.

Production wise, Argentina stands sixth in the global biodiesel production list. Whereas, In terms of exports, Argentina is the 5th biggest biodiesel exporter in the world. According to the Argentina customs data reports, around 5.97 MMT worth biodiesel exports were recorded by Argentina during the fiscal year 2022.


As compared to last year, there was a tremendous hike in biodiesel exports from Argentina. As per Argentina import export data reports, Argentina's biodiesel exports were estimated around 1.3 MMT in 2021 while it was 0.6 MMT tonnes in 2020. 


European countries are the main importers of Argentina's biodiesel. For the fiscal year 2021, the Netherlands was the top destination for Argentina biodiesel exports. Our Argentina export data suggests that around 1.2 MMT worth of biodiesel exports were made by Argentina.


Whereas, Spain was the second most favoured destination for Argentina biodiesel exports. Around 68 thousand tonnes worth of biodiesel exports to Spain were made in FY 2021. Whereas the United States was the third destination for Argentina's biodiesel exports. The United States accounted for over 20% share of Argentina’s total biodiesel exports.


Argentina's biodiesel exports have shown regular growth over the years. But this year, Argentina’s biodiesel exports could be affected due to severe drought in the production areas.


Prior to Europe, Argentina’s major export market was the United States. But due to the heavy import duties imposed by the USA’s, Argentina has shifted its market to the European countries. 


Experts forecast around a 50% drop in Argentina biodiesel exports to European countries. According to the Argentina trade data of 2022, around 1.2 million metric tonnes worth of biodiesel export shipments were made by Argentina to the EU.


The total value of Argentina's biodiesel exports to Europe accounted for over 1.6 billion dollars. Europe is the major destination for Argentina's biodiesel exports but this year, Argentina could suffer a loss of 900 million dollars in exports due to the drought.


The United States and Brazil are the leading biodiesel producing markets globally. For the financial year 2022, the US produced over 6.9 billion litres of biodiesel whereas, around 6.2 billion litres of biodiesel was produced by Brazil.


As per import export data reports globally, the Netherlands, Germany, Belgium, Spain and China are the top players in the international market. These had a share of over 50% of the global biodiesel export market. 


Biodiesel has a great potential in the global market. Through an effective marketing strategy, you can make quality sales in the international market. Exim Trade Data’s market research platform is currently the best available portal through which you can gain key insights into the global biodiesel market.


Here, you discover the top biodiesel import export companies in the global import export data market and analyze their shipment records. With these insights, you can find importers and exporters for your biodiesel business and boost your sales & revenue.

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