Auto fuel offtake raises oilseed consumption.

(From The Economic Times)

Byline: Nidhi Nath Srinivas

: The world is steadily increasing its oilseeds consumption. But not all of it is turning to fat. A serious chunk of global oilseeds production is now going into auto fuel tanks as Europe adopts biofuels with a vengeance.

With the recent surge in petrol prices, in Europe, some 10-15% of vegetable oil production (in particular rapeseed oil) could be used as biodiesel this season.

A new European Commission directive also calls for biofuels to represent 2% of fuels used in member states by '05, and 5.8% by '10. France alone has decided to set up four new biofuel plants, which will raise …