Biofuels are creating real economic value for farmers and rural communities.

The renewable fuels sector is growing fast, and Alberta is well-positioned to lead. Investment in fuel production and crop processing is accelerating, creating new markets for canola and long-term opportunities for farmers.

Alberta is already home to one of the most important facilities in the country. The Imperial Oil Strathcona Renewable Diesel refinery is the largest of its kind in Canada.

At full capacity, it can produce more than 1 billion litres of renewable diesel each year and will require up to 1 million metric tonnes of canola oil annually. That equates to roughly 2.5 million metric tonnes of canola seed used here in Alberta.

That demand matters. It supports stronger prices, more stable markets, and greater returns for producers.

Biofuels are also delivering measurable economic impact at the farm level. Between 2021 and 2023, the sector generated more than $3.5 billion in total economic impact for Canadian farms. Canola alone accounted for over $1.2 billion of that value. If spread across the 45,000 canola farms across Canada, that is about $27,000 per farm or about $55 per acre of canola seed. Unlike other value chains, farmers are getting the largest share of the economic impact in the biofuel sector.

As the industry grows, so does the opportunity. More demand for canola means more value staying in farmers’ operations and in rural communities across Alberta.

The demand for canola’s role in biofuels production has led to an average historical direct economic impact of $703 million (2021-2023) and $1.77 billion of total economic impact (average 2021 – 2023) throughout the biofuels value chain, from fields to the processing facilities.