“The reactivation in demand from oil companies due to higher fuel sales will have a positive impact on bioethanol sales, underpinning production that will return to pre-pandemic levels in 2022”assured Alejandro Ovando, director of the consultancy.
The work stated that “biodiesel sales will also improve, as a result of the increase in the cut from June to 7.5%, but that it temporarily stands at 12.5%, since it seeks to replace diesel imports.”
“Thus, biodiesel will have an upturn in domestic sales as well as exports (they could be a record in 2022), with which production will grow strongly, in a context of improved profitability,” the work indicated.
The work also highlighted that “In the first six months of 2022, 1,315.1 million dollars in biodiesel were exported, a year-on-year expansion of 106.7%, while 886,500 tons were shipped, with an annual growth of 53.2% compared to the same period of 2021”.
“In this way, foreign sales of biodiesel are heading for a record in values and quantities in 2022,” said IES.
The private report detailed that “exports in the first half of the year, both in value and quantity, are a record for these months of the year.”
“In particular, the high export prices will help to reach a historical value in 2022, which will be accompanied by a volume that is also high in historical terms, since in the first semester they exceeded the record in quantities of 2017,” the work exposed.
Source: Ambito
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