Biofuel Production In Brazil Slows Down In May
Many renewable energy supporters have looked to Brazil to support the growth of the biofuel industry. But after 2014 World Cup host set a new production record in April with 68 million gallons of biodiesel produced, the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the Brazilian Association of Vegetable Oil Industries (ABIOVE) reported that only 62.36 million gallons processed in May.
In comparison, the U.S. has produced 135 million gallons of biodiesel in May and over 500 million gallons year-to-date. Brazil’s year-to-date production is in excess of 305 million gallons.
With numbers like these, it’s easy to see why Emeryville, California-based Amyris (AMRS :NASDAQ) exited biodiesel manufacturing back in 2012 and is instead using its process to work with companies like Total to produce renewable diesel and jet fuel and Cosan (CYZ :NYSE) for commercial and industrial lubricants and additives.
Shares of Amyris were unchanged in afternoon trading.