Argentina cuts March export taxes on biodiesel

miércoles 6 de mayo de 2015 21:35 GYT

BUENOS AIRES May 6 (Reuters) - Argentina's government on Wednesday cut export taxes on biodiesel retroactively for March to 5 percent from 8.9 percent in a bid to support a sector hurt by the fall in oil prices and by trade obstacles with the European Union.

The government retroactively publishes the export duties it will levy on biodiesel sales each month, and it is not clear whether it will keep the tax cut for shipments from April onwards, which producers say makes planning difficult.

Argentina used to be the world's No. 1 biodiesel supplier until the European Union in 2013 raised tariffs on Argentine shipments, accusing the South American grains powerhouse of unfair trade practices.

Among Argentina's top biodiesel producers and exporters are international grains giants Cargill, Bunge and Louis Dreyfus. (Reporting by Maximiliano Rizzi; Writing by Sarah Marsh; Editing by Ken Wills)