Bio4 stops bioethanol production and suspends 127 people

Bio4, the first Argentine company to produce fuel ethanol from corn, announced today that it stopped the production of bioethanol due to the increase in production costs and the freezing of the price of bioethanol. The company, located in Cordoba, highlighted that they suspended the 127 people working in the plant. The price of the product has only had a 10% increase and the costs led by corn, exchange rate and inflation have increased more than 50%, generating losses that are already unsustainable.

Source: Clarín