Argentina: Biodiesel Market 2024

Biodiesel Market Size in Argentina

The Argentinian biodiesel market contracted remarkably to $X in 2021, falling by -29.8% against the previous year. Overall, consumption showed a deep reduction. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Biodiesel Production in Argentina

In value terms, biodiesel production stood at $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt contraction. The growth pace was the most rapid in 2016 when the production volume increased by 74% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Biodiesel Exports

Exports from Argentina

After three years of decline, shipments abroad of biodiesel increased by 92% to X tons in 2021. In general, exports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 106% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, biodiesel exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), the Netherlands (X tons) and Spain (X tons) were the main destinations of biodiesel exports from Argentina, together accounting for 73% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +5.3%), while the other leaders experienced a decline.

In value terms, the largest markets for biodiesel exported from Argentina were the Netherlands ($X), the United States ($X) and Spain ($X), together accounting for 67% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +3.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average biodiesel export price stood at $X per ton in 2021, with an increase of 59% against the previous year. In general, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, biodiesel export price increased by +79.3% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Biodiesel Imports

Imports into Argentina

In 2021, after two years of growth, there was significant decline in purchases abroad of biodiesel, when their volume decreased by -68.4% to X tons. In general, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 602%. Over the period under review, imports attained the maximum at X tons in 2020, and then contracted sharply in the following year.

In value terms, biodiesel imports reduced rapidly to $X in 2021. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 882% against the previous year. Imports peaked at $X in 2020, and then reduced rapidly in the following year.

Imports by Country

France (X tons), Japan (X kg) and the United States (X kg) were the main suppliers of biodiesel imports to Argentina, with a combined 87% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +108.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the United States ($X) and Japan ($X) constituted the largest biodiesel suppliers to Argentina, with a combined 88% share of total imports.

Among the main suppliers, the United States, with a CAGR of +85.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average biodiesel import price amounted to $X per ton, dropping by -19.6% against the previous year. Over the period under review, the import price, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 56%. The import price peaked at $X per ton in 2020, and then fell markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+19.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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