A new fuel launched in the United States will change the markets for soy, derivatives and hydrocarbons, experts say. The so-called HVO (Hydrotreated Vegetable Oil) is made from soy and is already in an experimental phase in the Baltic and Scandinavian countries, promising major changes in the world economy.
HVO, also called hydrotreated or hydrogenated oil and also hydrobiofuel, uses hydrogen instead of methanol – as is the case with biodiesel – for its catalysis. According to its developers, the new biofuel reduces carbon dioxide emissions from vehicles by 90%.
According to Gustavo Idígoras, president of the Chamber of the Oil Industry of the Argentine Republic and the Cereal Exporters Center (Ciara-CEC), the HVO is part “of the strong policy of last generation biofuels launched by the United States, which will replace fossil fuels and is based on renewable soy oil”.
Speaking to the Argentine portal Télam, the expert points out that the advance of this new fuel would have a particular impact on the neighboring country’s exports. According to him, there is a real threat of a drop in the price of products derived from soy – one of the main products in Argentina’s export basket.
“This energy revolution in the United States is generating billions of dollars in investments,” said Idígoras. In turn, a report by the director of Agritrend, Gustavo López, highlighted that in eight years the global consumption of biofuels in general grew by 72%, with biodiesel increasing by 53% against 487% for HVO.
According to the director of Ciara-CEC, HVO “can be used 100%, without the need to cut it, because it is a complete and total substitute for mineral diesel”. This means that once the new technology is fully tested, the United States will be able to completely replace the use of fossil fuels.
In the hydrocarbon market, says the expert, prices would tend to fall as consumption of the main world demand falls. On the other hand, HVO can mean a boost for soybean producers, with an increase in production destined for industrialization.
Ivo Sarjanovic, an investor and professor of agricultural commodities, is another enthusiast of the new soy-based fuel: “There is a renewable diesel, called HVO, that can almost entirely replace fossil diesel without any cuts,” he said in mid-July of this year. year.
According to him, the United States is reconverting refineries to meet the demand for vegetable oils. He estimates that around 20 million tons of soy will be needed to meet this new demand.