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Argentina Says Biodiesel Export Tax Rate Will Be 19.1%

The Argentine government will charge a 19.1 percent tax rate for soybean biodiesel exports during the next 15 days, deputy Economy Minister Axel Kicillof said today in a press conference held in Buenos Aires.

President Cristina Fernandez de Kirchner announced yesterday that from now on biodiesel exports will be charged a variable tax rate linked to prices, saying the revision had been requested by major producers of soybean biodiesel, such as Bunge Argentina SA, Cargill Inc., Aceitera General Deheza SA, among others.

Soybean biodiesel export taxes will be changed every 15 days, Kicillof said. The tax rate was set at 24 percent until today. Argentina is the world’s largest exporter of soybean biodiesel.

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