Analyst Predicts 16M Tons Biodiesel Output by 2009
Nancy DeVore, an analyst with Bunge Ltd., sees world biodiesel output at nearly 16 million metric tons by '09.
Compiled by staff
Published: Nov 30, 2006
This year's world biodiesel output was around 5 million metric tons. According to Nancy DeVore, a senior analyst with Bunge Ltd., that figure will triple over the next three years.
Speaking at the Terrapinn Biofuels Finance & Investment World conference in London, DeVore said that world biodiesel production will be nearly 16 million tons in 2009.
"It will be a big challenge for the world to meet biodiesel demand," she says.
DeVore says her prediction accounts for projects expected to be built, not just those currently being planned.
The large amount of soybean meal left as a byproduct of soy-based biodiesel - only 20% of crushed soybeans is oil - will limit the use of soybeans in biodiesel production, DeVore says. Other oilseeds, such as rapeseed, could fill the demand with less byproduct, she adds, and another Bunge official says that more rapeseed will be sourced from Eastern Europe in the coming years.
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Tagged: biodiesel, soybeans, soybean, biofuels
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