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

Pavel Ciaian and Dusan Drabik ()

No 211546, 2015 Conference, August 9-14, 2015, Milan, Italy from International Association of Agricultural Economists

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.

Keywords: Agribusiness; Agricultural Finance (search for similar items in EconPapers)
Pages: 4
Date: 2015
New Economics Papers: this item is included in nep-agr and nep-ene
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae15:211546

DOI: 10.22004/ag.econ.211546

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