In Canada, the Western Producer magazine reports OECD/FAO data shows 27% of the world’s cereal production could be used as biofuel feedstock by 2034. As much as 15% of the global corn crop is likely to be destined for biofuel while industrial use overall could consume 37% of corn. About 18% of vegetable oil could be used for making biomass-based diesel. Some analysts, however, including the OECD/FAO itself, are skeptical that the mid-term outlook estimates for biofuels are likely outcomes because of the volatility in oil markets and policy shifts.
