Members of the Argentinian Biofuels Association, or CARBIO, exported 85,000 mt of biodiesel in March, a 5.2% fall compared with the same period in 2013, according to data from the industry body received by Platts Monday.
CARBIO members account for the vast majority of exports from the country, giving a good indication of export values before official quarterly government data is released.
Separate fixture data received in March indicated that around 37,000 mt was fixed towards the United States on the vessel Alkiviadis, while 28,000 mt was sent to Spain on the Ghetty Bottiglieri. The remainder was to sent elsewhere in South America or to unknown destinations.
However, according to Platts shipping tracking software cFlow, the Alkiviadis actually went to Barcelona, Spain, while the Ghetty Bottiglieri is currently en route to Singapore, after leaving La Plata, Argentina at the beginning of April.
The material sent to Barcelona was likely to be used for discretionary blending into high-sulfur gasoil, a practice which takes place when fuel suppliers try to boost margins by increasing the amount of biodiesel or other economically viable components used in their gasoil and diesel.
It is unlikely to be customs-cleared into the EU, due to punitive anti-dumping duties introduced in November 2013 on Argentine product of between Eur216/mt and Eur245/mt.
Meanwhile, 7,159 mt of biodiesel produced by CARBIO member was consumed locally during the month of March, according to the same CARBIO data. A local analyst source estimated consumption from other local biodiesel producers at 44,877 mt, bringing the total to 52,036 mt, up from 36,284 mt the previous month.
This represented a blending incorporation rate of 5.11%, up from 4.24% in February but still some way off the 10% mandate introduced by the Argentine government at the beginning of February.
Argentina's President Cristina Fernandez de Kirchner last week asked Congress to approve a proposal to exempt biodiesel from local consumption taxes worth 41% at the pump, in order to boost demand and help counter the negative effects of EU anti-dumping duties on the Argentine biodiesel industry.
