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World production of biodiesel rises to record level in 2023

The International Grains Council (IGC) estimates global biodiesel production, including HVO, for 2023 at a record high of 71.5 million tonnes. This represents an 11% increase over the previous year, primarily due to growth in North and South America and Asia. The EU-27 remained the top producer, although its production barely changed compared to the previous year.

World production in 2024 is projected to reach 76.3 million tonnes, exceeding the previous year’s output by 7%. In recent years, the US, Brazil, and Indonesia have significantly expanded their biodiesel production. Consequently, these three countries now account for almost 60% of global production, compared to just 35% ten years ago. In the US alone, biodiesel and HVO production nearly doubled to just under 20 million tonnes since 2020 and is expected to rise further to 21 million tonnes in 2024.

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