13.12.201716:29:00UTC+00ARGENTINA: Country Sets 8% Exporting Tariff For Biodiesel

The Argentinean government set an 8% exporting tariff to biodiesel as of January 1, 2018.

In a decree published Wednesday in Argentina's Official Gazette, the government said that it is "necessary to harmonize the exporting rights of biodiesel and that of its main raw material, soybean oil, to achieve convergence between them."

Soybeans pay a retention rate of 30% biofuel production pay 27%

The decree also establishes that the price of biodiesel sold in domestic market would be decided by the Ministry of Energy and Mining.

The decision is considered a gesture to the United States, which recently imposed high taxes on imports of Argentinean biodiesel, which it accuses of receiving subsidies.