Brazil’s largest biodiesel producer, Brasil Ecodiesel, had their “Social Fuel certificate” for their two largest plants revoked by the country’s Agriculture Development Ministery.
That certificate is related to the social sustainability of the company’s operations, like purchasing feedstocks from small properties in the vicinity from their plants. As the certificate is mandatory for biodiesel producers to qualify to participate in official biodiesel auctions promoted by ANP (National Petroleum Agency), Brasil Ecodiesel may not be able to sell their biodiesel for as long as one year.
As a consequence, the company's stock fell 9.3% last Friday, March 5.
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