May 10 2016
Biodiesel: Argentine ag exports boom after policy shift.
Vegoil and vegoil products saw particularly robust export growth. Exports of biodiesel, which is Argentina is largely derived from soyoil, rose by 107% to $126m. Soyoil exports were up 72% by value, at $988m, with sunflower oil exports soaring by 225% to $143m.
The rise in exports follows the election of Mauricio Macri, who took office December 2015, after running a pro-agriculture and pro-business campaign. Agricultural commodities were the fastest growing export category in the first three months of 2016 and accounted for 51% of all exports by dollar value in the quarter.