Soyatech releases Biofuels Index, ethanol capacity up 91% in 2nd quarter

Soyatech released its Biofuels Index for the second quarter of 2007. Ethanol planned capacity in the US increased 91% to 13 billion gallons per year (BGY), while ethanol capacity under construction increased 199%, from 2.417 to 7.226 BGY.

During Q2 2007, total online capacity for ethanol increased by 564 million gallons per year (MGY), or 10.7%, from 5.289 BGY to 5.853 BGY. Ethanol capacity under construction decreased by 1.7%, a confirmation of other reports that ethanol projects have been facing increasing difficulty in obtaining project financing.

The numbers for biodiesel were also strong. Online capacity for biodiesel production increased 41% from Q1 to Q2 2007, to 1.255 BGY. Biodiesel capacity under construction grew by 19%, to 1.927 BGY, and planned capacity is up 24%, to 2.898 BGY.

Soyatech notes that 39% of current biodiesel capacity and only 16% of planned capacity, uses soybean exclusively as a feedstock.

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