Thanks for your comment.
We estimate that it would be about 1.3 million tonnes, which would be evaluated at over $1 billion, should the clean fuel standard be moved to 5% for biodiesel and for which canola is arguably the best feedstock. It burns approximately 90% cleaner than just petroleum.
I think this would send a clear demand signal for farmers to continue to grow and invest in their farms, and in a way that has domestic value-added jobs for Canadians. Biodiesel plants are located across the country. This provides a great opportunity to continue to grow the canola industry in a way that is not reliant upon another export market. Again, the fact that it could possibly be a market the size of Japan export-wise is fairly staggering from my perspective.
I think that 5% would also send the demand signal further down the value chain to both crushers and biodiesel plants that they should be innovating and investing. We need the signal so the investments can begin to go, and so that when farmers do harvest their crops in the fall, they have more options as to where they sell that product [Inaudible—Editor]