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Global Biofuel Output To Soar In Next Decade-Report

Global production of biofuels will rise rapidly over the next decade, helped by high government blending targets and subsidies, the OECD and the UN’s FAO food agency said in a report published on Thursday.

These rises will boost already soaring world agricultural commodities prices and reduce their availability for food and feed, the Organisation for Economic Co-operation and Development and the Food and Agriculture Organisation said in co-drafted report
“With a biofuel output that should more than double over the next 10 years, according to the most conservative estimates, the pressure on agriculture will flare up,” Jacques Diouf, head of the Rome-based FAO, told a news conference in Paris.

Global ethanol production was projected to reach about 125 billion litres in 2017, twice the quantity produced last year.

Biodiesel output was set to grow even faster with production forecast at around 24 billion litres by 2017, up from nearly 11 billion at the end of 2007 and less than 1 billion in 2000, the report said.

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