jueves, 29 de marzo de 2012

Spain could stop buying Argentine biodiesel in retaliation for YPF

In the midst of the onslaught against YPF official, controlled by the Spanish group Repsol's, Argentine biodiesel exports could suffer retaliation if the government of Spain made in a ministerial order signed by former President Jose Luis Rodriguez Zapatero, who has just be dusted less than two weeks.

On 15 March, the Executive Committee of Economic Affairs? Held weekly and often chairing the current president, Mariano Rajoy? sought an order that, if implemented, would result in the prohibition of entry into Spain of Argentine biofuels. That country in 2011 represented nearly a quarter of Argentine biodiesel exports, according to the Argentina Chamber of Renewable Energy (Cader). Biodiesel exports of 2011 reached 1.6 million tonnes, worth more than u $ s 1,900 million.

The Spanish complaint import lies in the differential export taxes imposed by the Argentine government to the oilseed complex, as published in the Spanish newspaper El Mundo. While soybean pay withholding of 35% soybean oil (raw material) pays 32% and 20% biodiesel.

With this differential? Labor and other benefits granted to the domestic industry by 26,093 law? production and export of Argentine biodiesel grew exponentially. Argentina is the fourth largest producer and leading exporter, and about 90% of sales in 2011 went to the European Union, according to the consultant Abeceb on data from INDEC.

But the competitive advantage of Argentina's biodiesel industry? Are wreaking havoc in European industry, especially in Germany and Spain, where much of the installed capacity is in idle state?, Cader reported late last year.

Spanish industry, the spread of deductions makes local companies such as Acciona and Abengoa, can not buy cheap oil to produce biodiesel in their factories. Imports of biodiesel from Argentina represent between 80% and 90% of Spanish consumption.

For the angry businessman and some support the economic bloc, Zapatero designed a rule requiring oil companies to buy biodiesel only from European manufacturers.

In May last year, Spanish employers nearly claimed victory in its intention to curb imports of Argentine biodiesel, while another camera business in Argentina, Carbio, warned of their disagreement. In a statement, said last May that the measure? Constitute an unjustified barrier to trade, since there is no technical basis for its imposition and therefore would violate the obligations under the World Trade Organization (WTO)? ?.

At that time, President Cristina Fernandez de Kirchner would have sent a strong message to Zapatero to approve the measure is not right in Argentine elections. As reported in El Mundo, the president would say that if prohibiting the entry of Argentine biodiesel, Spanish companies could be prepared.

Time passed, changed the Spanish government and Cristina was reelected with more than 54% of the vote. Compliments YPF became permanent criticism, and in the offensive, the agreement could break damaging exports of domestic green fuel.

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