The biodiesel industry contributes to the strength of U.S. soybean markets, but it also provides value beyond soybean farmers. Not only do biodiesel plants purchase soybean oil and diversify soy demand, they strengthen rural communities and economies by supporting job and revenue growth, says Bob Metz, a soy checkoff farmer-leader from South Dakota.
“The entire renewable fuels community, you know, have really revitalized rural America. It’s brought good paying jobs; it’s brought good facilities. Its tax dollars on those facilities are going into our school systems, our roads, our state government.”
As the biodiesel industry grows and generates demand for soybean oil, the soybean-crushing industry benefits from the additional business.
“Soybean farmers developed the biodiesel industry to create an alternative source of demand for soybean oil,” explains Metz. “Many of the biodiesel plants started from local investments by farmers and others in the surrounding community. So the success of the industry and the impacts it has on soybean processing results in additional profits for many farmers.”
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