Krungsri Research sees up to 4% annual growth for Thai biodiesel demand

In Thailand, the research arm of Krungsri Bank has released its latest biodiesel outlook for the next three years where it says growing demand of up to 4% per year will see demand grow to as high as 5.7 million liters by 2023. Although the government is using biodiesel as a way to support palm oil prices for farmers and more diesel trucks are hitting the road across the country, which together with the post-pandemic uptick are driving demand, the government is also pushing for electric vehicles which may cause challenges for the market in the future.