The Secretary of Energy ordered the update of the biodiesel price from this month until next August, through resolution 324/2023 published today in the Official Gazette.
The standard sets the purchase price of biodiesel destined for its mandatory mixture with diesel oil for the operations corresponding to this month at $307,226 per ton, while also determining a value of $318,455 for next June; $331,194 for July; and $344,441 for August.
The four increases, of 4.34% in May, 3.65% in June, 4% in July and 3.99% in August, total an increase of 16.98% compared to the April value established at $294,430.
The current regulations also determined that the payment period for biofuels may not exceed 30 calendar days in any case, counting from the date of the corresponding invoice.
Energía stressed that “macroeconomic policies and specific sectoral regimes that continue to help promote agro-industrial activity and the generation of added value in the national territory, must be implemented in such a way that the fulfillment of the expectations created in those and the achievement of its objectives is carried out contemplating the common interest of the population”.
Consequently, it indicated that this “is consistent with the policy of decoupling international prices from internal ones and with the aim of taking care of the income of Argentines and of maintaining a level of energy costs compatible with the development of the productive sector. and services of the national economy”.
In August it will be one year since the Government put into effect the new Biofuels Regulatory Framework, which will be in force until 2030 from Law 27,640 sanctioned in July 2022, which established new parameters for mandatory cuts in gasoline and diesel, and created the Special Commission for the development of the sector.
The new framework for the production, storage, marketing and blending of biofuels replaced the one that had been in force for 15 years, and which allowed a broad development of the sector in different provinces linked to the production of biodiesel and bioethanol from different raw materials.
The regime for the promotion of the production and use of biofuels will be in force until December 31, 2030, and enables the national Executive Power to extend it, for the only time, for five more years.
The continuity of the promotion regime sought to adjust the model that allowed in 15 years to have 54 production plants in 10 provinces, adding value at source, generating and sustaining regional economies with more than 300,000 direct and indirect jobs.
In keeping with the law, the procedure was determined for the application of a mandatory minimum cut of 12% for bioethanol and an eventual reduction to 9% with gasoline, while for diesel it will be 5%, with an eventual reduction to 3%.
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
