Alcoholes de Uruguay (ALUR), a subsidiary of state oil company ANCAP, has signed a major trade agreement with international trader Trafigura to export 4,000 tons of biodiesel produced with canola oil to the European Union. In a statement released by ANCAP, the company said that after a bidding process and tough negotiations to get better prices, ALUR finally accepted the Singapore-based company's offer.The value of the operation would be about $5 million, according to local newspaper El Observador.

ALUR reportedly called 120 international companies, but only 4 made a specific offer, one out of time. As none of the remaining three reached the price ALUR wanted, a trading process was then opened that ended with the sale to international trader Trafigura, Stipanicic told El Observador. This renegotiation made it possible to achieve an improvement of about US$ 100 per tonne.

The company produces biodiesel at its biorefinery in Capurro, Montevideo, where it processes vegetable oils of various origins and animal fats to produce up to 55,000 tons of BIOFUEL per year with ISCC certification.

According to the information received from the buyer, the product will be sent to Amsterdam to be stored in its own tanks before reaching its final destination in the Scandinavian countries, where special value is given to products that contribute to the reduction of the global carbon footprint and other qualities, such as its good performance in low temperature climates.

The traded volume represents what was produced by ALUR in January 2022 and its output frees up the storage capacity needed to continue processing the available canola stock, and carry out new export operations by the same processes. 

Source: Agrolink