South African Biofuels Markets Poised for Growth

A new report being offered by Research and Markets addresses the possibility of a burgeoning biofuels market in South Africa.

According to the report, the South African biofuels market is poised for significant growth, as the government has committed to develop the sector.

The country has an abundance of underutilized land and labor, and developments in the biofuels industry could create significant economic activity, which will have a positive effect on economic development, poverty alleviation and fuel independence. It is estimated that 55,000 direct jobs will be created from the biofuel industry by 2013.

“The market for biofuels production in South Africa stands at the door of an exciting growth period with the country having much to gain from decreased dependence on imported fossil fuel products, while, at the same time, stimulating additional sectors — specifically the agricultural industry with a high potential to increase employment,” said a Reseach and Markets analyst. “Biofuels utilization will also form the cornerstone of the government’s strategy to reduce greenhouse gases under their Kyoto commitments.”
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