While the pandemic has not had as large an impact on biodiesel consumption as it has for ethanol, glycerin, a by-product of biodiesel production, has seen demand fall sharply. Both refined and crude glycerin prices have suffered. Some of the contraction in the crude market can be attributed to the cyclical pricing often seen on a yearly basis. Refined pricing fell, while not abnormally low, moved rapidly from trading in the mid-50 cents range down to the low 30’s over a three-month period.
The pandemic reduced refined glycerin demand as restaurants shuttered, causing food demand to decline 10 to 20 percent. Grocery store food demand offset some of this decline, rising roughly six percent, by one account. Another factor helping to alleviate some lost demand has come from the pet food market where glycerin is used in soft pet foods and dog…
11.21.2024
Domestic US biodiesel blending helps lift October RFS RIN production
US domestic biodiesel blending of 147.5 million gallons in October produced a monthly high of 221.2 million renewable identification number (RIN) credits for January-October. This was 11.5% above September...
11.21.2024
CWG trades lower as broader animal fats markets hold steady
The US animal fats and oils markets held steady on Thursday November 21, with limited trading as attention shifted toward broader macroeconomic factors and...
11.21.2024
October commercial cattle, hog production above 2023
US animal protein prices were steady on Thursday November 21. Limited trade was reported from market sources due to the proximity of the extended Thanksgiving holiday weekend in the...