Argentina Biodiesel Sector Seeing Exponential Growth

Argentina Biodiesel Sector Seeing Exponential Growth

BUENOS AIRES (Dow Jones)--Argentina's biodiesel output is set to continue soaring through this year, with its share of production rising to 10% of the world's output, according to the Argentine Renewable Energies Chamber.

The gain makes Argentina the third-largest manufacturer of the fuel. Only the European Union and the U.S. produce more.

Capacity is expected to climb by 840,000 metric tons to 1.4 million tons (415 million gallons) a year in 2008. In 2009, capacity is seen surging again to 2.4 million tons, according to a chamber report obtained by Dow Jones Newswires Thursday.

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