Soybean growers could see demand growth from the biofuels sector in the next decade, reminiscent of the ethanol boom that shifted into high gear in the early 2000s and pushed corn use to new heights, reports The Telegraph.
The key product set to take off is renewable diesel, not to be confused with biodiesel.
Both fuels use any oil or fat, mostly soybean oil, as feedstock. But the processing for each product differs, with renewable diesel generated from more high free fatty acid feedstocks, which produce better carbon intensity scores.
With proposed plants all over the U.S., particularly along the Southern coast and Pacific Northwest, potential new capacity for renewable diesel production could skyrocket to 5.97 billion gallons by 2024.
