Global production of bio-fuels increased 17% in 2010 to reach an all-time high of 105 billion liters, up from 90 billion liters in 2009.
Korea’s Hyundai reached an agreement with the Argentine government by which it will compensate its 91 million US dollars surplus on sales to the local domestic market by promoting exports of peanuts, wine, bio-diesel and soy flour to the tune of 157 million US dollars.
Driven in part by higher fuel costs connected to events in the Middle East and North Africa, global food prices are 36% above their levels a year ago and remain volatile, pushing people deeper into poverty, according to new World Bank Group numbers released Thursday.
China is far from normalizing soy-oil purchases in Argentina since it has not placed new orders according to the Argentina Cooking Oil Industry Chamber, CIARA. However the industry has managed to diversify markets.