According to experts of Oil World, following the results of 2018, world production of biodiesel can reach a record high of 39.4M tons, which is 1.5M tons more than the previous forecasts of experts, and significantly higher than last year's figure (35.8M tons).
As expected, the growth in biodiesel production will be due to a decrease in the price of palm oil, which is one of the main types of raw materials for the production of biofuels. As a result of this, and also due to government support, the largest increase in biofuel production is forecasted for Indonesia in the year to 4.8M tons, which is more than 1.5 times higher than in 2017 (2.9M tons).
In addition, analysts forecast an increase in the production of biodiesel in Brazil - by 24%, to 4.65M tons against 3.75M tons in 2017, in the US - by 11.5%, to 6.8 (6.1)M tons, Thailand - by 8.3%, to 1.3 (1.2)M tons, Singapore - by 6.6%, to 1.12 (1.05)M tons and Malaysia - by 29%, to 0.9 (0.7)M tons. At the same time, the biodiesel production by the end of this year could be reduced in Argentina by 16.4% - to 2.4 (2.8)M tons and the EU - by 1.1%, to 13.4 (13.5 )M tons.
Source: apk-inform.com.
