Australian Renewable Fuels, Australia’s largest biodiesel producer, has been forced into receivership as a result of the collapse in global oil prices.

ARF says that it can no longer cope with the cost of producing its renewable fuel at a time when oil prices have slumped while prices for the feedstock, such as animals fats and vegetable oils, have jumped.

ARF’s board also blamed changes to the federal government’s biodiesel policies. The government has scrapped its cleaner fuels tax grants scheme but still provides subsidies for imported biodiesel.