US Surge Into Biofuels Opens Opportunity For Aust Beef
AUSTRALIA - The United States push into ethanol production, in lifting US corn prices, could create opportunities for Australia’s red meat industry says Rabobank's senior analyst Animal Proteins, Wendy Voss.
2 August 2007
2 minute read
The US push into ethanol production, forcing up US feed grain prices, could create opportunities for Australia’s red meat industry Rabobank's senior analyst Animal Proteins, Wendy Voss, says.
She believes this push towards US ethanol production is driven by:
- The US desire to have a “clean, green energy source
- Their desire to be more self-sustainable instead of dependent on oil from politically unstable countries, and also
- There is a general feeling of support for rural America.
This includes an excise tax rebate of 51 US cents a gallon, conversion of petrol stations to biofuel and protection against cheaper South American sugar-cane based biofuel imports.
Ms Voss said there was a mandate for US consumers to use 7.5 billion gallons of biofuel annually by 2012, requiring 66 million tonnes of grain.
Source: North Queensland Register
The Emerging Threat Of Ethanol
Each year the world's dependance on energy grows and every second of it our energy sources are being depleted. The future is bio-diesel, only it has arrived too soon. The prescense of corn is beginning to dominate the farmers market as it's value sky-rockets. But what effects is this having on animal producers? Get the lo-down on the debate by clicking on our previous news items below.
