Global Demand for Biofuel Offers Opportunity for Australia
- Rising food costs spur debate on use of crops for energy
- Demand for sustainable aviation fuel and diesel to surge
Canola plants at a farm in New South Wales, Australia.
Photographer: David Gray/BloombergThis article is for subscribers only.
Strong growth in global demand for renewable fuels offers a great opportunity for suppliers in Australia, the second-largest exporter of canola seed, according to one of the country’s biggest crop shippers.
While the US is the largest market, “we are seeing very strong growth across Asian markets and into China, and I think it creates a great opportunity for Australia given our geographic proximity,” Robert Spurway, chief executive officer of GrainCorp Ltd., said in an interview.