Key Market Indicators
Australian biofuel production is poised for modest growth in the coming years, according to recent projections. By 2028, the country's biofuel output is expected to reach approximately 2,300 barrels of oil equivalent per day, up from around 2,200 barrels in 2023. This marks a year-on-year growth rate of 1.3%. The increase comes after a period of decline; since 2008, Australian biofuel supply has decreased annually by an average of 2.3%. On the demand side, the outlook is slightly more optimistic. By 2028, biofuel demand in Australia is projected to hit roughly 2,500 barrels of oil equivalent per day, rising from 2,300 barrels in 2023. This translates to an average annual growth rate of 1.6%. However, this anticipated rise comes after a decade of declining demand. Since 2010, Australian biofuel consumption has fallen by an average of 3.4% each year.
