By Nicolas Misculin
BUENOS AIRES (Reuters) – The Congress of Argentina, one of the world’s largest grain exporters, passed a law this Friday that allows for a reduction in the amount of biofuels to be mixed with diesel and gasoline.
The country, a leading exporter of biodiesel made from soybean oil, has developed a thriving biofuel industry thanks to its grain production and state support for biofuels to be used in combination with automotive fuel.
The regulation, aimed at guaranteeing the sustainable use of biofuels in diesel and gasoline, was approved by the Argentine Senate. She had already passed through the House of Congress.
The measure provides for a minimum use of 5% biodiesel, which could drop to 3%, in diesel for sale to the public, compared to 10% previously.
The new law, promoted by the ruling Peronist party, seeks to promote biofuels to have a “medium and long-term horizon to continue their expansion,” Energy Secretary Dario Martinez said in a note sent to journalists.
(Reporting by Nicolas Misculin)
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