Biodiesel Market Set to Soar

Clean Fuels Alliance America (CFAA) says demand for biodiesel is ratcheting up because of corporate pressure. CFAA says it expects 15 billion gallons of yearly biodiesel use by 2050. Scott Fenwick, Technical Director with CFAA, says clean energy market growth is going from being pushed by government to being led by the largest corporate shippers.

“Amazon, Google, Microsoft, Walmart… they’ve got their own sustainability and decarbonization goals and they’re demanding their shipping companies implement similar goals,” Fenwick said.

He said global shipping companies, like Maersk and Stolt, setting these goals means they’re working to use 100 percent biofuels and biodiesel in their ships, planes and long-haul trucks.

“We’re talking about a 60 to 70 billion gallon market for biodiesel and renewable diesel to play in,” said Fenwick. “And then, when I say that, it means significant market opportunities for soybeans and soybean farmers.”

Editor’s Take:

What a boost these projections would provide to U.S. farmers who provide the soybeans typically used in the production of biodiesel. The forecast does not seem unrealistic given the goals for sustainability on the part of major global firms like those listed in this article. Simply one more reason to become acquainted with farmers in your area and stay close to them. The future of agriculture may run into a few growing pains and snags once in a while, but overall the future is very bright. Given the advancements in production technologies and new ways to apply data in farming/ranching, your CAD team has every reason to believe agriculture is one solid bet for your dealership well into the future. Put your inventory on AgTruckTrader.com, let farmers know about AgPack and make sure you remain abreast of what issues are important to them.