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The Minister of Mines and Energy, Bento Albuquerque, cited challenges such as the supply of raw material. More than 70% of biodiesel in Brazil is produced from soybean oil.
Without sufficient biodiesel to meet the mandatory blend of 12% in diesel over the coming months, Brazil will reduce the blended percentage to 10% in September and October, during the delivery period of the 75th Biodiesel Auction, informed the Minister of Mines and Energy, Bento Albuquerque, on this day (08/13).
The decision affects the planning of the soybean industry, which had repurchased grains that would be exported to meet obligations, said the Abiove association.
“The Brazilian Association of Vegetable Oil Industries (Abiove) regrets the decision of the Ministry of Mines and Energy (MME) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to reduce the blend…”, Abiove said in a statement.
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When questioned, he cited challenges such as the supply of raw material. More than 70% of biodiesel in Brazil is produced from soybean oil.
See Other News About The Biodiesel Market In Brazil
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- 3.6 Million Liters of Biodiesel Are Exported to Europe
- JBS Started Today (08) Construction of Its New Biodiesel Factory in SC; 400 Jobs Will Be Created
- Million-Dollar Investment in Bahia: New Biodiesel Plant Authorized by State Government Will Generate Over A Thousand Jobs
Despite having had a record harvest, the country is exporting large volumes of soy, especially to China, benefiting from a favorable exchange rate.
“In August, during auction L75, we identified an imbalance between the supply of biofuels and the expected demand for the next two months. Thus, we concluded that there will not be sufficient volumes of biodiesel to meet the mandatory blend percentage of 12% for the months of September and October”, he stated.
“In this way, once again, we see the need to promote the reduction of the blend to 10% during the mentioned period, and this does not characterize a decrease in the relevance that the federal government attributes to this successful policy…”, the minister concluded.
No further information was provided on how the stages already conducted in the biodiesel auction will be handled.
Check Below The Minister’s Announcement About The Reduction of Biodiesel In Diesel To 10%
