The Government authorized a new increase in bioethanol, a key component for the manufacture of biofuels.
made it through Resolution 169/2023 published this Thursday in the Official Gazettewhere set $141,409 per liter the purchase price of the bioethanol made from sugar cane and of the corn-based bioethanol; both intended for their obligatory mixture with naphtha. The increase provided will apply “for operations carried out as of March 16, 2023 and until the publication of a new price that replaces it.”
“The payment period for bioethanol made from sugar cane and corn may not exceed, in any case, 30 calendar days from the date of the corresponding invoice”, it was clarified in the text that bears the signature of the Secretary of Energy, Flavia Royon.
It is the third increase authorized by the Government and this has to do with a resolution of September 2021 in which it was established that the prices of bioethanol made from sugar cane and corn destined for the domestic market in its mandatory mixture with the naphthasthey would be updated monthly by the Ministry of Energy and published on its website with the same temporality, according to the percentage variation of the price at the pump of gasoline sold through service stations owned by the company YPF LIMITED COMPANY”.
In addition, by a 2022 decree, the aforementioned secretariat was empowered to “establish alternative mechanisms for determining the price of bioethanol made from corn and sugar cane, of exceptional application in cases where substantial gaps are verified between the price resulting from the implementation of the aforementioned resolution and the manufacturing costs of the aforementioned biofuels, which would be rendered ineffective as soon as this Secretariat issues the pertinent regulations in which the guidelines for determining the prices in question are stipulated. within the framework of the provisions of Law No. 27,640″.
Within this framework, a resolution of March 1 had set the previous increase, but now “based on the information provided by YPF regarding the price variation implemented on March 16, 2023 for grade 2 and grade 3 marketed through the service stations owned by them in the Autonomous City of Buenos Aires, it is pertinent to set and publish on the website of this Ministry the acquisition price of bioethanol made from sugar cane and corn, to the operations to be carried out as of March 16, 2023 and until a new price replaces it”.
The latest increase, approved weeks ago, it had fixed an increase of 4.66% that had brought the price of bioethanol to $135.336 per liter. While that of the end of January -the first of the year- had been 4.55%.
Meanwhile, in 2022, bioethanol based on sugar cane and corn increased in February, April, May, September, October, November and December, according to the resolutions of the Ministry of Energy.
In August 2021, the Government put into effect the new Regulatory Framework for Biofuels, which will be in force until 2030 from Law 27,640 that established new parameters for mandatory cuts in gasoline and diesel, and created the Special Commission for the development of the sector. Through it, a mandatory minimum cut of 12% bioethanol, and a possible reduction to 9% with gasoline. In the case of fuel made from sugar cane, the volumes must be 6% of the mandatory minimum mix, the same percentage for corn-based bioethanol.
Source: Ambito
