This chapter describes the market situation and the latest set of quantitative medium-term projections for global and national biofuel markets for the ten-year period, 2014-23. It covers the developments expected in world and national ethanol and biodiesel prices, production, use, trade and stocks. The quantitative projections are developed with the aid of the partial equilibrium Aglink-Cosimo model of world agriculture. The chapter also includes three boxes that explain the uncertainties around the US Environmental Protection Agency (EPA) decision concerning the levels of biofuels mandates, the influence of petrol price controls on hydrous ethanol prices in Brazil, and, sub-national policies supporting biofuels. The chapter concludes with a discussion of some main issues and uncertainties that may have an impact on the medium-term outlook for biofuels. These include biofuel policies, and specific market developments influencing production, consumption and trade in biofuels.