Binatural’s CEO, Andre Lavor, has announced that the company plans to increase its biodiesel production by 20% annually until it reaches 650 million liters in 2026. This expansion is necessary to meet Brazil’s future demand as the blending of biofuel into diesel continues to grow. The government has scheduled an increase in mandatory blending from 12% to 13% in 2024. Lavor is optimistic about this, as the previous schedule had called for a 15% blend by 2023. He noted that a 1% increase in the biodiesel blend corresponds to about 1 billion liters more consumption. Currently, Brazil produces about 70% of its biodiesel from soybean oil, which is abundant in the country.
Source: Reuters (*Translated by Ia Niani)