Forecast implicit subsidy ranges in the main case and historical averages, 2023-2028

Notes

The blended cost is the total value of biodiesel/renewable diesel with conventional diesel. Implicit subsidies are calculated by subtracting the diesel price from the blended cost. Historical ranges are based on average annual maximum and minimum implicit subsidies between 2010 and 2023. Future diesel prices are equal to average prices between 2010 to 2023, whereas future biofuel prices are based on estimated production costs using forecast feedstock prices from the OECD-FAO Agricultural Outlook 2023-2032, https://www.oecd.org/publications/oecd-fao-agricultural-outlook-19991142.htm.