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Soybean oil demand will expand as renewable diesel emerges as ideal biofuel
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compliant with their 2021 Soy Sourcing Guidelines. he announcement of unlikely partnerships, such as “This can give strong assurance to customers around the Loves and Cargill, Marathon Petroleum and ADM world about the background, practices and sustainability and Chevron and Bunge, have appeared on front U.S. Soy is produced with.” pages of newspapers across the United States. As businesses, states and countries adopt sustainable “It’s clear that sustainability is a bigger and bigger policies and commit to building a better business driver around the world,” said Jim environment, experts say demand for soy is Sutter, CEO of the U.S. Soybean Export expected to erupt. Council (USSEC), during a December In the United States, both renewable diesel webinar focused on the outlook for U.S. Soy and biodiesel draw on the same feedstocks. production, crush and exports. U.S. Soy is Mac Marshall, Vice President of Market poised to deliver a sustainable solution, he Intelligence for USSEC and the United Soybean added. Board, explained that the market is comprised “Earlier this year, SSAP (U.S. Soy of soybean oil, distillers corn oil, animal fats, Sustainability Assurance Protocol) was canola oil and used cooking oil/yellow grease, recognized for meeting the Olympic and of which soybean oil makes up nearly 50 Paralympic Games Tokyo 2020 Organizing percent of the feedstock share. Committee’s sustainable sourcing code Jim Sutter “Renewable biodiesel is poised to be a for agricultural products, the Global Seafood much larger market in the years to come,” said Marshall, Alliance’s Best Aquaculture Practices and the Consumer noting it’s a 3-billion-gallon market of which greenfield Goods Forum’s Sustainable Soy Sourcing Guidelines,” construction can bring up in the next couple of years. Sutter said. “And we are very pleased that the SSAP Marshall echoed Sutter in that what makes this exciting was again recognized and approved by FEFAC as being
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INDIANA CORN & SOYBEAN POST
