Transcription of BIOFUELS Market situation
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BIOFUELS Market situation
3. COMMODITY SNAPSHOTSOECD-FAO AGRICULTURAL OUTLOOK 2016-2025 OECD/FAO 2016116 BIOFUELSM arket situationSeveral political changes concerning biofuel markets were finalised in the courseof 2015. In Brazil, the taxation system was amended to favour hydrous ethanol rather thangasohol3and the mandatory anhydrous ethanol blending ratio was increased from 25% to27%. In the European Union, revisions to the Renewable Energy Directive (RED) and to theFuel Quality Directive were adopted. A 7% cap was introduced on renewable energy comingfrom food and feed crops in the transport sector by 2020. After a long delay, the USEnvironmental Protection Agency s (EPA) final rulemaking for the years 2014-16 was issuedin November 2015. The mandates specified are higher than those proposed earlier in theyear, though still considerably lower than the initial levels proposed in ethanol4and biodiesel5prices continued to decrease in nominal terms in 2015due to weak crude oil and biofuel feedstock prices.
BIOFUELS Production 7
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