# EVs unlikely to derail growth in renewable diesel demand - RealAgriculture

> An analyst at Aimpoint Research argues that government support for electric vehicles will not significantly reduce future renewable diesel demand. The argument is that EV adoption is concentrated in passenger cars, while diesel remains essential for freight. Renewable diesel US capacity is projected to roughly double to 5.4 billion gallons by end-2024.

- Date: 2023-08-11 · published 2023-08-11T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/15286-evs-unlikely-to-derail-growth-in-renewable-diesel-demand-realagriculture
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Sustained renewable diesel growth supports demand for soybean and canola oil feedstocks and the crush capacity built to supply them. That outlook is supportive for soybean oil.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2023-02-27 | [Soy oil demand soars amid renewable diesel growth \| CHS Inc.](https://feedsoft.ai/events/15333-soy-oil-demand-soars-amid-renewable-diesel-growth-chs-inc.md) | -1.3% | -8.2% |
| SBO | 2023-12-18 | [Demand to Surpass Supply in Renewable Diesel Market \| Red River Farm Network](https://feedsoft.ai/events/15253-demand-to-surpass-supply-in-renewable-diesel-market-red-river-farm-network.md) | -1.2% | -3.1% |
| SBO | 2023-08-22 | [Don’t write-off renewable diesel; feedstock demand is only in the](https://feedsoft.ai/events/34660-don-t-write-off-renewable-diesel-feedstock-demand-is-only-in-the.md) | -1.1% | -8.2% |
| SBO | 2020-09-22 | [Future of Renewable Diesel Demand Looks Bright \| Energy Intelligence](https://feedsoft.ai/events/50992-future-of-renewable-diesel-demand-looks-bright-energy-intelligence.md) | -2.9% | -5.1% |
| SBO | 2022-11-10 | [CHS sees 'bullish' demand in soybean oil, citing renewable diesel](https://feedsoft.ai/events/38751-chs-sees-bullish-demand-in-soybean-oil-citing-renewable-diesel.md) | -1.8% | -13.0% |

## Sources

- realagriculture.com: https://www.realagriculture.com/2023/08/evs-unlikely-to-derail-growth-in-renewable-diesel-demand/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.