Govt Backing Indian Biofuel Industry, Biodiesel Demand to Surge High
Released on: October 6, 2008, 1:56 am
Press Release Author: Shushmul Maheshwari
Industry: Energy
Press Release Summary: The government support and brilliantly performing automobile industry are fuelling the demand for biodiesel in India. The country is expected to ask for 3.6 Million Metric Tons biodiesel by 2011-12.
Press Release Body: According to our new research report, “Emerging Biofuel Market in India”, the total biodiesel demand in India is expected to reach 3.6 Million Metric Tons by 2011-12 riding on the good performance of the domestic automobile industry.
The report says, biofuels are the best option to secure future energy supply for an agriculture-based economy like India. But biodiesel requirement in the country largely depends upon the government’s stand on the usage of biofuel. As the Indian government has already launched the second phase of biodiesel usage promotion this year, it is expected that the biodiesel requirement will soar during the forecasted period.
Identifying the expected rise in biodiesel requirement and to maintain the biodiesel feedstock supply, the government has decided to provide around 7.7 Million acres of land for jatropha plantation next year (2009). It is also planning to add another 98.8 Million acres of wasteland for planting jatropha. Also, if the mandatory 5% biodiesel blending usage comes into effect in the fiscal 2008-09, India will need nearly 72 Million Metric Tons of biodiesel by 2011-12 to meet the shooting demand.
If the 5% biodiesel blending is implemented by 2010-11 and the domestic automobile industry performs positively, then the total biodiesel requirement in India would reach nearly 4 Million Metric Tons, says the report. Biodiesel will be a profitable business for both domestic and export market in future as the demand for this fuel will rise in the country.
Our exhaustive research report, “Emerging Biofuel Market in India”, also gives detailed information on the status of other biofuel, bioethanol, in the Indian biofuel market. It evaluates the current status and opportunities in the industry and presents feedstock and cost analysis.
This research report studies the market trends that will help the client to understand the industry dynamics and predicts the future trends to give forecast on some vital parameters of the industry, such as ethanol production, biodiesel production, ethanol consumption and biodiesel requirement.
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RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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