Biodiesel production to rise to record levels in 2024
The volume of global biodiesel production this year may grow significantly, according to experts of the Hamburg-based analytical agency OilWorld (Germany). According to their estimates, the output of eco-fuel in the reporting period will increase by about 3.7-3.8 million tons – up to a record 62.5 million tons.
According to experts, the strengthening of the figures will be supported by higher blending mandates in key oilseed and vegetable oil producing countries: in particular, the US, Brazil and Indonesia.
“The biofuels sector has been responsible for the bulk of the demand increase in the oils and fats market over the past four seasons, far exceeding the rather sluggish demand growth in the food sector,” experts explain.
Read also
Crude oil prices fall 6% amid reports of US-Iran deal nearing
US meat exports supported domestic demand for corn and soybeans
Official sales of GM seeds in Ukraine may be allowed in 2030
North Korea sees decline in wheat and barley cultivation areas
EU and Mexico have signed a trade agreement with a focus on the agricultural sector
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon