Biodiesel in Europe: market growth and opportunities, perspectives for soybean oil

摘要

Biodiesel was introduced in Europe in the early 90s. Since then, a rapid expansion has created a large production base of over 2 million MT capacity. The consumption pattern across the EU has been largely determined by fiscal legislation and by technical specifications. In 2002 production reached an estimated volume of 1,065,000 MT, up 15% from 2001. Ten years of technology development created improved production technology and more flexibility with respect to raw materials and outputs. More growth is expected, driven by new incentives to grow the biofuels market on EU level. Volatility of raw material and product prices though, makes biodiesel production in certain periods a risky business, with temporarily poor margins and growth, but also periodswith exciting margins. The recent approval of a European Biodiesel standard broadens the road to introduction of other vegetable oils and fats in blends tailor-made for the biodiesel market. This also creates a potential for soybean oil as one of the raw materials to be used.