For the projection period, biofuel markets are projected to be highly influenced by mandates and other incentives in countries all over the world, with the US, Brazil and the EU playing major roles, respectively, on ethanol and biodiesel markets. Based on sustained political support for biofuels, the Outlook projects increasing world biofuel prices and these will also be underpinned by rising crude oil and energy prices. The world ethanol price2 should follow an increasing trend to reach USD 54.4 per hi in 2019 supported by demand conditions in the US market where the Conventional Renewable Fuels mandate is assumed to be binding over the entire projection period. These quantities are far above the average 2007-09 base levels.