Biodiesel To Account For 25Pct Of Soyoil Usage In 08-09 - Oil World

The U.S. Soybean Export Council noted Nov. 17 that oilseeds analyst Oil World has forecast biodiesel production could account for nearly 25% of total soy oil consumption in the U.S., Argentina, Brazil and the E.U. in 2008-09.

Argentina and the U.S. are expected to have large biodiesel output growth, the report found. The U.S. is expected to consume around 1.35 million tonnes of soy oil for biodiesel in 2007-08, about 16% of total U.S. soy oil consumption.