Experts from the Hamburg-based analytical agency OilWorld (Germany) predict a significant increase in global biodiesel production this year. They estimate that eco-fuel output during this period will rise by approximately 3.7-3.8 million tons, reaching a record high of 62.5 million tons.
According to these experts, the growth in production will be driven by higher blending mandates in key oilseed and vegetable oil producing countries, including the US, Brazil, and Indonesia.
“The biofuels sector has played a crucial role in driving demand growth in the oils and fats market over the past four seasons, surpassing the relatively slower demand growth in the food sector,” the experts explain.
