The biofuel market will stay an important sector for rapeseed - UFOP

Source

APK-Inform

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The development of the biofuel industry is a powerful driver for the agricultural sector. Volumes of biofuel production in the world are growing continuously and may reach their highest level by 2024.   Said Stefan Ahrens, Managing Director of UFOP,  at the international conference "VegOilTrade-2023" in Rotterdam.
 
At the same time, it is expected that the growth of biodiesel production will be the highest. 
 
In the last few years, there has been a decrease in rapeseed use in the production of biofuel - in 2021, its volume reached 591 thsd tonnes against 757 thsd tonnes in 2020 and 792 thsd tonnes in 2019, although its fate was one of the largest. Nevertheless, in 2022, the volumes of oil use increased again.
 
Rapeseed oil has a great chance to replace the shortage or decrease the use of palm or soybean oil in biofuel production. However, the question is, is there enough canola on the market to meet demand? In this context, the war in Ukraine became a challenge for industry. Although the high harvest of oilseeds in the EU was able to partly compensate for the reduction in the supply of Ukrainian rapeseed on the market. Yet the problem remains, emphasized S. Arens.
 
"Currently, there is significant competition for biofuel on the market, and the agricultural sector will also have to fight for its market share," the speaker noted.

 

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