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With a new government in place since December 2023, the biofuels sector is projected to move on to a freer business environment through less limitations and official controls. Changes are expected to come through a new biofuels law or reforms to the current one in place since 2021.

Post projects Calendar Year (CY) 2024 Argentine chicken meat production at 2.4 million metric tons (MT), up slightly from CY2023 levels. CY2024 exports are projected at 140,000 MT as Argentina recovers from its first Highly Pathogenic Avian Influenza (HPAI) outbreak.

On January 5, 2024, The Secretariat of Agriculture, Livestock and Fisheries of the Ministry of Economy authorized for the first time the commercialization of four genetically modified (GM) yeasts to enhance bioethanol production through grain fermentation. Industry supports this decision and expects it to help pave the way for a cleaner and more sustainable future in fuels.

Post lowers marketing year (MY) 2022/2023 soy production at 20.5 million metric tons (MMT) still below the USDA official on lower than expected harvest area and yields due to drought. Post lowers MY2022/2023 crush to 26 MMT due to decreased exports and the lowest crush operation rates decades during recent months.

Argentine imports of consumer-oriented food and beverages in 2023 are projected to remain at 2022 levels, due to continuing economic uncertainty, weak consumer spending, and the expectation of another year of high inflation.