Brazil to keep mandatory biodiesel blend at 14%
Brazil's national energy council has decided to keep the local mandatory biodiesel blend into diesel at 14% from March instead of raising it to 15% as previously expected, Energy Minister Alexandre Silveira told reporters.
Most of Brazil's biodiesel comes from soybeans after it is processed into soyoil.
Silveira told reporters after a meeting of the council that the mix of the biofuel into diesel would remain at 14% "until further deliberation, which can be taken at any time."
Abiove, a national oilseed lobby representing global soybean processors, did not have an immediate comment.
Silveira cited concerns relative to price of food as justification for the move. The government has been worried about high food prices, which affected President Luiz Inacio Lula da Silva's approval ratings.
"President Lula's government has a big priority: feeding people fairly and minding food prices," Silveira said.
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