04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
MBM prices into Indonesia and China were unchanged this week. Trading into the neighboring markets was reported in the $350 – 360 CIF range. Strong supply into the Southeast Asian markets continues to weigh on prices. An announced temporary ban on permits from Indonesia for imports of MBM was announced today, thus far the length of the ban remains unknown. Given the low prices currently in the market, feed buyers in Indonesia are likely to pressure the government for a swift lift of the restrictions. A longer ban is certainly bearish MBM prices, but current values should make it attractive for any buyers with space in their formulations.
Prices out of the Australian market was unchanged for MBM, but there were suggestions of material trading as low as $360 for mixed species material. Bloodmeal and poultry by meal prices have moved lower for both export and domestic trading. A stronger Australian dollar has pushed some sellers to lower prices. While global supplies of MBM…