Bolivia Approves Use of Biotechnology for Soy Production
March 27, 2019| |
The government of Bolivia has granted the approval to use biotechnology to produce soy solely for biodiesel on 18 March 2019. The announcement was made during the meeting of President Evo Morales with private entrepreneurs in Santa Cruz. Also present were Vice President Alvaro Garcia Linera and Minister Luis Alberto Sanchez of the Ministry of Hydrocarbons. The government's decision was based on its commitment to biofuels, which also prompted Bolivia to mass produce bioethanol to replace the importation of gasoline and diesel fuel additives in September 2018.
According to Minister Sanchez, biotechnology will be used in soy production exclusively for the preparation of the new biodiesel green fuel. This initiative is estimated to cost over US$2 million in investments, and is predicted to increase Bolivia's soy agricultural production by 250,000 hectares. He also said that work will be done in Bolivia's regulatory framework in the coming weeks, to regulate the activity through a supreme decree.
Read the official news release for more details.
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