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.
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