Brazil's Olfar exports first biodiesel cargo

Market: Agriculture, Biofuels
18/03/24

Brazilian biodiesel producer Olfar Group exported its first soy methyl ester (SME) biodiesel cargo on 11 March.

The company sent the biofuel to the Kao-hsiung port in Taiwan from the Itapoa port in Santa Catarina state. It did not share the cargo's volume.

The cargo was 100pc soybean oil-based and was produced at Olfar's plant in Erechim, in Rio Grande do Sul state.

Asia "is increasing biodiesel demand, opening business opportunities for South America," Olfar said.

Brazil's biodiesel exports more than doubled in 2023 to 107.9mn l (1,800 b/d) from 41.9mn l in 2022, according to trade ministry data. The most common destinations were Europe and the US. Renewable fuels producer Be8 shipped 85mn l of this total.

"With the market opening for exports and the decision to raise the blending mandate to 14pc, the expectation is that the group will increasingly expand its operations," Olfar said.

National energy policy council CNPE raised the biodiesel mix mandate to 14pc from 12pc on 1 March.

By Laura Guedes

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