Market Chatter: GrainCorp Calls for National Biofuel Mandates to Strengthen Australia's Energy Security

MT Newswires Live07-09 07:27

GrainCorp (ASX:GNC) is urging Australia to introduce national biofuel mandates after fuel supply disruptions linked to the Iran war highlighted the country's dependence on imported fuels, Bloomberg reported on Thursday, citing Chief Executive Robert Spurway.

In an interview, Spurway said locally grown canola could be used to produce biofuels, including sustainable aviation fuel (SAF), while having little impact on export volumes.

The company said Australia has sufficient feedstock to meet SAF demand by 2030, but more government support for investment and research will be needed, even as the country commits AU$1.1 billion to establish domestic renewable fuel production by 2029.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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