Soy Oil Traders Jostle to Decipher Argentine Export Potential
- Biodiesel tweak may boost shipments from world’s top supplier
- Move could ease concerns about global vegetable oil shortages
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Traders dealing in vegetable oil are scurrying to get a read on expectations that the world’s biggest supplier of soybean oil could ramp up exports by almost 10%.
Argentina’s biofuels industry anticipates an additional 500,000 metric tons of soy oil being freed up for export after the South American nation approved a new law last week that cut the blend mandate in diesel fuel in half. That could impact the global market and Argentina, which shipped 5.36 million tons of the soybean extract last year: