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Biofuels market may grow slower than in last decade

Biofuels market may grow slower than in last decade

Until 2023, global production of biofuels will grow mainly due to demand, expensive oil and government policies, but - according to the FAO and the OECD - the rate of growth will be slower than in the last decade.

FAO and OECD stated in a joint report that the production of ethanol and biodiesel will reach 158 billion liters and 40 billion liters in 2023. 

According to the organization of the production of biofuels will significantly develop, ethanol and biodiesel by more than 50 percent. in the next decade. It will be significant slowdown in comparison with the past decade, when the production has more than doubled.