Argentine Biodiesel Exports Up 40 %

Argentine biodiesel exports rose 40 percent on the year in 2014 to nearly 1.6 million tonnes while total production rose 29.4 percent 2.58 million tonnes, the Federal Statistics Agency said on Friday.

The Buenos Aires government last year cut the tax on biodiesel exports with the aim to boost a sector hurt by new European biodiesel import tariffs and exporters sought out new markets for the green fuel.

Argentina is the world's top exporter of soyoil, which is used to make biodiesel.

(Reporting by Maximilian Heath; Writing by Sarah Marsh; Editing by David Gregorio)