Imported biodiesel has accounted for a large share of the total amount consumed in Spain, the main supplier of which was Argentina at least until anti-dumping duties on biodiesel imports from this origin were approved by the European Commission in November 2013. A consequential LCA is carried out in the present study to compare this pathway, which was the prevailing one until almost 2014, with the alternative of using domestic biodiesel from Used Cooking Oil (UCO). System expansion is performed in order to take the indirect functions of both systems into account, functions arising from interactions between co-products (protein meals) in the animal feed market. The marginal suppliers of these co-products in the international market are identified and emissions from direct and indirect Land Use Change (LUC) are calculated. When they are not considered, imported soybean biodiesel leads to lower GHG emissions, due to the carbon uptake by biomass. However, when global LUC is taken into account, UCO biodiesel generates a much lower impact, because it causes a contraction in the area diverted to biofuel feedstock production in other parts of the world. The results underline the importance of considering emissions from LUC when comparing biodiesel alternatives and, thus, interactions in the global market must be addressed.