Worldwide Biodiesel Production to Hit Record

oilworldBiodiesel production worldwide is expected to hit a record this year, with higher mandates in South America expected to help fuel the climb. This article from Bloomberg quotes an Oil World report that shows biodiesel production could rise by about 8 percent to 29.1 million tons this year.

Brazil’s biodiesel inclusion mandate will rise to 6 percent in July from 5 percent, climbing later to 7 percent, according to Oil World.

“Assuming that the higher mandates will be largely fulfilled, Brazilian biodiesel production may increase by 17 percent to 3 million tons in 2014,” Oil World said.

Production in Brazil may show a “further massive increase” to 4 million to 4.1 million tons next year as 7 percent biodiesel inclusion is mandatory year-round, according to the industry researcher.

The report goes on to say that palm oil is gaining importance as a feedstock, making up about one-third of the world’s biodiesel production. Soybean oil for biodiesel is also expected to rise this year, primarily in the U.S., Brazil and Argentina.

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