Competition from surging grain prices prompted a Bigfork biofuels developer to announce Friday it will boost its contract price for the oilseed crop camelina.
Great Plains – The Camelina Co. is one of two groups with plans to produce a combined 200 million gallons of biofuels annually from camelina within the next two to three years.
The companies are aiming to capitalize on rising interest for crop-derived fuels such as biodiesel, touted as an alternative to foreign oil. But reaching their lofty goals will require the companies to secure contracts on an estimated 2 million acres of farmland.
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