US renewable fuel industry helps net income for farmers soar

24 February 2012 15:56  [Source: ICIS news]

ORLANDO, Florida (ICIS)--US farmers realised a record net income of more than $100bn (€75bn) in 2011, attributable, in part, to the production of ethanol and renewable fuels, the secretary of the US Department of Agriculture said on Friday.

Even when inflation is factored in, 2011 had the best farm economy seen in over 40 years, said Secretary Tom Vilsack at the National Ethanol Conference in Orlando, Florida.

“Make no mistake about it…one of the principle reasons we are seeing this strength is because you all have figured out the value-added opportunity called renewable fuel,” he told conference participants in a keynote address.

The conference started on 22 February and ends on Friday.

($1 = €0.75)

By: Bobbie Clark
+1 713 525 2653

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