The latest forecast calls for global ethanol production to exceed 90 billion litres, or about 24 billion gallons, in 2014.

The Global Annual Ethanol Production Forecast from the Global Renewable Fuels Alliance (GRFA), in cooperation with F.O. Licht, estimates the world’s ethanol output will peak at 90.38 billion litres this year.

That amounts to an increase of almost 2.7% growth in production, up from 88 billion litres in 2013, according to GRFA spokesman Bliss Baker. “While forecasts of global economic growth remain sluggish, the global ethanol industry continues to increase its production and contribution to the global economy,” said Baker.

The latest data from F.O. Licht shows significant growth in most major ethanol producing regions in 2014. The world’s two largest producers, Brazil and the United States, are forecasted to maintain and increase their production by almost 2.5% respectively. Another major producing region, the European Union, is forecasted to see ethanol production jump over 8% this year. Africa, an emerging region with huge biofuel production potential is forecasted to see a growth of more than 136% in ethanol production in 2014.

“Although total volumes of ethanol produced in emerging regions like Africa are lower in comparison to more established producers, a production increase of over 130% is incredible because we know that these production increases will drive new investment in agricultural and job creation while reducing Africa’s reliance on imported oil,” stated Baker.