It's been a crazy month for biofuels in North Carolina. Earlier in April, Smoky Mountain Biofuels announced a deal to bring online 23 Biodiesel pumps in seven Western North Carolina Counties. This deal will allow Smoky Mountain Biofuels to go from a 1 million gallon a year operation upwards of 3-4 million gallons a year. The end result for users will be increased supply, which should bring down the prices. "New equipment has been ordered to ramp up production at their current site from 1 million gallons a year to 3 or 4 million. But there’s not enough room for all the volume they need. They will open a second plant in coming months to handle even more production. More than one county is courting Smoky Mountain Biofuels in hopes of landing the plant in their county, and Begley and Gray are weighing their options. They will continue to produce at the Jackson site after opening a second facility."
OUR TAKE: With the increase in availablity, it will only be time before more companies enter the market for biofuels. All of this will make the price more cost efficient and will enable the biofuels industry to grow. Not only is their an environmental benefit, but it will benefit the farmers of North Carolina, who have seen the bushel price for soy rise to 753.25 cents per bushel.
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