%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment American farmers are increasingly turning to %Canola crops as demand for biofuels rises and as prices slump for other grains such as wheat. Canola oil is mostly used for cooking. However, there is growing demand for the crop in the renewable fuel market. Industry reports say farmers in Tennessee and Kentucky are growing their canola acreage sevenfold this year as companies such as Chevron (CVX) line-up to buy the crop for their biofuel operations. Grain handler Scoular Co. is spending millions of dollars to convert a former sunflower processing facility into one capable of crushing canola and other oilseeds. Canola oil as a biofuel source is gaining traction as industry tries to lessen its dependence on fossil fuels in the heavy transportation and farming sectors. The market for biofuels in America and Canada is forecast to reach $20 billion U.S. in 2025, up from $6 billion U.S. in 2019, according to data from Bloomberg Intelligence. The shifting focus towards canola also comes as U.S. farmers prepare for their biggest income decline since 2006, according to the U.S. Department of Agriculture. Prices for popular crops such as wheat and soybeans remain depressed due to oversupply and weak global demand. Canola oil was originally developed in Canada as a healthier alternative to rapeseed. Canada remains the world’s largest canola producer. However, U.S. farmers are catching up to Canada, particularly in North Dakota and Minnesota where canola production has steadily grown. America is also a top buyer of Canadian canola, with imports of nearly 3 million metric tons valued at $4.6 billion U.S. in 2023.