Argentinian ethanol sales in February up 25% year on year to 84.87 mil liters

Sao Paulo, Brazil (Platts)--20 Apr 2017 427 pm EDT/2027 GMT

Argentinian ethanol sales in February rose 25% on the year to 84.87 million liters, which was down 6% from January, data from the ministry of energy and mines showed.

Although total sales in February were lower than January, daily average was higher at 3.03 million liters, the data showed.

Among provinces, Cordoba accounted for 35% of the demand, while Tucuman accounted for 28%. Salta came third with 11%, followed by Jujuy with 10%, and San Luis with 9%. Santa Fe province had the lowest share at 6%.

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Total consumption in February represented 11.81% of ethanol mixed into gasoline, which consumption reached 718.33 million liters, down 11% from the previous month and down 2% year on year, the data showed. That compared with 11.29% of ethanol blended the month before and 9.29% a year ago.

Ethanol production in February amounted to nearly 80.1 million liters, up 23% year on year, but down 5% from the previous month.

Ethanol from the feedstock corn accounted for 56% of the total, or 44.5 million liters. The balance was ethanol from sugarcane.

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In April last year, the government increased the mandatory blend to 12% from 10% previously, with the additional supply coming from sugarcane ethanol, which boosted its production last year.

In 2016, ethanol from cane grew 19% year on year to 400 million liters, while ethanol from corn rose 2% to nearly 490 million liters, data showed.

Ethanol sales last year totaled nearly 911 million liters, up 13% year on year. That represented on average 10.52% of ethanol blended into gasoline, according to Ministry data.

Since the country started its mandate in November 2009 for blending ethanol into gasoline, sugarcane was the only feedstock to produce ethanol until the first corn distillery came online in September 2012.

Ethanol from feedstock corn has surpassed the amount of ethanol from sugar in 2014. There are nine sugarcane mills producing ethanol and five corn distilleries.

Kingsman, an agricultural unit of S&P Global Platts, estimates for 2017 a total of 1.044 billion liters of ethanol consumption in the country, up 15% year on year.

Total ethanol sales would represent an average blend of 11.92% into gasoline, according to Kingsman. Total ethanol production from corn and cane is expected to reach 1.05 billion liters, up 18% on the year, Kingsman said.

YearCane ethanol output*Corn ethanol output*Ethanol sales*

*million liters

--Ale Rosete,

--Edited by Dan Lalor,

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