USDA predicts increased use of soybean oil in biodiesel over the next decade

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The use of soybean oil in biodiesel is expected to increase by 2030, according to forecasts from the United States Department of Agriculture (USDA), reported by the magazine Biodiesel on November 9th.

Released on November 6, the USDA Agricultural Projections for 2030 report predicted slight growth in the use of soybean oil for biodiesel during the period.

Around 3.6 million tonnes of soybean oil was used in biodiesel production in 2019-20 and this volume was expected to increase steadily to reach 3.8 million tonnes in 2030-31.

The soybean planted area is also expected to increase in the next decade, according to the report. Planted hectares were 31 million ha in 2019/20 and are expected to reach 34 million ha in 2020/21, grow to 36 million in 2021/22, reach 36.4 million in 2022/23 and 2023/24 , reach 36.6 million in 2024/25 and 2025/26, fall to 36.4 million in 2026/27 and remain at that level until 2023/31.

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Likewise, the hectares of soybeans harvested were 30.3 million in 2019/20, and are expected to reach 33.3 million in 2021/21, increase to 35.7 million in 2021/22, and be at 36 million in 2021/ 22, reach 36 million in 2022/23 and 2023/24, reach 36.3 million in 2024/25 and 2025/26, fall to 36 million in 2026/27 and remain at that level until 2030/31.

Soybean yields were expected to increase from 47.4 bushels/acre in 2019/20 to 55.6 bushels/acre in 2030/31.

This text was automatically translated from English.

Source: OFI International

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