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Colombia Short of Bio-Fuel Stock Needs
WASHINGTON - Jun 12/07 - SNS -- Ethanol and bio-diesel production capacity in Colombia is short of the country's mandated requirements, according to a recent report from the U.S. agricultural attache for the country.
Colombian law currently mandates a 10% blend of ethanol with gasoline, and a 5% blend of bio-diesel with fossil diesel beginning in 2008.
Current production of Colombian ethanol covers approximately 70% of Colombian ethanol demand to meet the 10% blend requirement. Actual bio-diesel production only covers approximately 20% of the projected demand needed in 2008 to meet the 5% blend requirement. Sugarcane and palm oil are the major feedstocks used in Colombia to produce ethanol and bio-diesel respectively.
To eliminate the shortfall in bio-fuels production, the Colombian government has initiated a number of tax incentives and government projects to encourage the production of both ethanol and bio-diesel.
The Government of Colombia has established a regulation for bio-fuels use and has excluded bio-fuels from paying the country global tax, the local additional tax, or "sobretasa" as well as removing the tax on any new plantings of selected agricultural crops including African Palm.
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