Brazil may move forward to 2010 the obligatory blending of 5% of biodiesel into regular diesel, Mines and Energy Minister Edison Lobao is quoted as saying on the Estado newswire Friday.
Since the beginning of this year, 2% of biodiesel has to be blended into regular diesel in Brazil. The government had originally planned to demand a binding 5% blend in 2013.
The government could make a 3% biodiesel blend binding in July of this year and may require a 4% blend next year.
With a 3% blend, Brazil would consume 1,260 billion liters of biodiesel a year, up from 840 million now, Lobao is quoted as saying.
The minister rejected concerns that there could be biodiesel supply problems in Brazil. The country currently already has a 2.5-billion-liter biodiesel production capacity, he said.
Much of Brazil’s biodiesel output capacity lies idle, however, due to high prices of raw materials, such as soy oil.
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March 17th, 2008 @6:00 pm
I’d like to know how can I invest in Brazil?
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