OECD and FAO see biofuels production jumpting more than 50% by 2023

July 14, 2014 |

In France, the recent fall in prices of major crops is expected to continue over the next two years before stabilising at levels above the pre-2008 period, but markedly below recent peaks, according to the latest Agricultural Outlook produced by the OECD and FAO. They anticipate consumption and production levels of biofuels will increase by more than 50 percent, led by sugar-based ethanol and biodiesel. The ethanol price increases in line with the crude oil price, while the biodiesel price more closely follows the path of vegetable oil prices. According to the report, ethanol production is expected to reach 158 billion liters while biodiesel production should hit 40 billion liters by 2023.

 

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Category: Fuels

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