Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Global Biofuels Output Slows on Less Brazilian Ethanol, IEA Says

Dec. 13 (Bloomberg) -- World production of biofuels will increase at a slower pace than previously forecast in the next five years as Brazil’s ethanol output declines and the U.S. market becomes saturated, the International Energy Agency said.

Global growth is estimated at 400,000 barrels a day from 2010 until 2016, compared with the earlier forecast of 500,0000 barrels a day, the Paris-based agency said today in its monthly Oil Market Report.

Brazilian ethanol production in 2011 is set to drop by 75,000 barrels a day to 375,000 barrels a day on a “poor sugar cane harvest and high sugar prices” and will reach 530,000 barrels a day in 2016, according to the IEA.

In the U.S., the expiry of a 45 cent-per-gallon blenders’ tax credit at year-end is expected to sap distillery investment as the market gets more saturated, the agency said.

To contact the reporter on this story: Ola Galal in Cairo at ogalal@bloomberg.net.

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.