World Perspectives Senior Analyst Mike Krueger says renewable diesel will be a game changer for the global vegetable and fats markets. “There’s a huge change about to happen that I don’t think the market has fully comprehended yet,” explained Krueger. “Businesses are making big expansions in canola and soybean processing plants.” Vegetable oil consumption is expected to increase dramatically. “In the next two to four years, we may have to increase vegetable oil consumption by eight times just to satisfy renewable diesel needs. That will change the dynamics of the oilseed industry, including sunflowers, soybeans and canola.” Krueger spoke at the National Sunflower Association’s Summer Seminar in Grand Forks.
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