According to a research report published by Accenture, an internationally renowned consulting firm, on January 6th, Argentina, rich in agricultural resources, is expected to become the world’s largest producer and exporter of biofuels.
The report pointed out that Argentina’s sugar cane cultivation and ethanol extraction have great potential. If local and foreign enterprises in Argentina increase investment in the ethanol industry, it is expected that the South American country’s annual ethanol production will reach 8 million liters in the next few years. The report emphasized that Argentina, Australia, Thailand, Guatemala, South Africa and Colombia will be the "potential countries" for the development of the world ethanol industry. The sum of annual ethanol production of the six countries is expected to reach about 50% of the current annual US production.
Argentina is the world's leading soybean and soybean oil producer and exporter. Some large multinational companies have already or are preparing to invest heavily in Argentina to establish a biofuel plant to use soybean oil to refine biofuels.
However, many experts said that the development of biofuels in some countries has taken up a large amount of arable land and food, causing food prices to rise in the international market. Argentina is currently faced with inflation issues, and it should supply food mainly to domestic and international markets in order to stabilize food prices.
The report pointed out that Argentina’s sugar cane cultivation and ethanol extraction have great potential. If local and foreign enterprises in Argentina increase investment in the ethanol industry, it is expected that the South American country’s annual ethanol production will reach 8 million liters in the next few years. The report emphasized that Argentina, Australia, Thailand, Guatemala, South Africa and Colombia will be the "potential countries" for the development of the world ethanol industry. The sum of annual ethanol production of the six countries is expected to reach about 50% of the current annual US production.
Argentina is the world's leading soybean and soybean oil producer and exporter. Some large multinational companies have already or are preparing to invest heavily in Argentina to establish a biofuel plant to use soybean oil to refine biofuels.
However, many experts said that the development of biofuels in some countries has taken up a large amount of arable land and food, causing food prices to rise in the international market. Argentina is currently faced with inflation issues, and it should supply food mainly to domestic and international markets in order to stabilize food prices.
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