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The Impact of the EU Biofuel Policy Reform on Agricultural and Energy Commodity Prices

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  • Ciaian, Pavel
  • Drabik, Dusan

Abstract

We will build a tractable partial equilibrium model that captures the most important features of the EU biofuel, energy, and biofuel feedstock markets. We consider two representative crops: wheat and rapeseed. Wheat is used for both human consumption and ethanol production (where it yields DDGS as a co-product). Rapeseed is crushed first, yielding joint products: rapeseed oil and meal. Oil is then consumed by humans and is also used in biodiesel production; rapeseed meal is used as animal feed. Waste oil is used for second-generation biodiesel. Because the European Union imports a lot of biofuels and biofuel feedstocks, we allow for trade in these commodities. We explicitly model the multiple counting toward the overall mandate for secondgeneration biofuels produced from non-food crops.

Suggested Citation

  • Ciaian, Pavel & Drabik, Dusan, 2015. "The Impact of the EU Biofuel Policy Reform on Agricultural and Energy Commodity Prices," 2015 Conference, August 9-14, 2015, Milan, Italy 211546, International Association of Agricultural Economists.
  • Handle: RePEc:ags:iaae15:211546
    DOI: 10.22004/ag.econ.211546
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    File URL: https://ageconsearch.umn.edu/record/211546/files/Ciaian-The%20Price%20and%20Indirect%20Land%20Use%20Effects%20of%20the%20EU%20Biofuel%20Policy%20Reform-711.pdf
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    Keywords

    Agribusiness; Agricultural Finance;

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