USDA announced Thursday it is making changes in the Advanced Biofuel Payment Program making biofuels produced in facilities in non-rural areas and those that are foreign-owned eligible for the program payments. The American Soybean Association applauds USDA's announcement. According to ASA President Rob Joslin, ASA has been pressing for modifications because the requirements unfairly excluded valuable biodiesel production facilities that utilize domestic soy feedstocks and benefit American farmers and communities.
Joslin says biodiesel has provided a significant market opportunity for U.S. soybean farmers as well as jobs and economic stimulus for the U.S. economy. He says the production and market competitiveness of advanced biofuels is very difficult especially under the current economic conditions. Joslin states the Advanced Biofuel Program provides much needed assistance to advanced biofuel producers struggling to maintain production, jobs and the significant infrastructure investment they've made.
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