Philippines: Biofuels Annual

Post sees Philippine biofuels consumption recovering in 2024 in line with economic growth, as fuel ethanol demand grows 8 percent to 682 million liters and biodiesel increases at 0.8 percent to 240 million liters. The primary driver of this growth will be increases in the fuel pool, with potential for greater growth if higher blending standards are fully adopted. Post forecasts ethanol production to increase to 395 million liters. The feedstock problems remain and imported ethanol will fill the gap, growing by 14 percent to 280 million liters in 2024. The implementation of the discretionary E20 blend (20 percent ethanol for gasoline) and mandated B3 blend (3 percent biodiesel) is still pending awaiting the Department of Energy’s (DOE) decision to issue a Department Circular (DC) containing the implementing guidelines on the E20 and B3 roll-outs.