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.
Biodiesel RIN Values Fell 16% Last week but find Temporary Floor at $1.52
RIN prices were caught in a down-draft following leaked reports that the EPA was looking to lower the 2021 RVO mandate below the 2020 mandate. Biodiesel RINs closed the week 16 percent below the prior week, but 131 percent over the price from a year ago. Ethanol RINs fell 21 percent from the week prior but were 190 percent above prices from a year earlier. The 2021 biodiesel RIN was valued at $1.52, and the ethanol RIN settled at $1.31 on Friday. Monday is showing signs of further decline, with values looking down a few cents mid-day.
The fall in RIN values was not as bad as it was in June when President Biden roiled the market with news about wanting to provide market relief for refiners. On that day, biodiesel RIN prices fell 26 percent and found a floor at the exact same $1.52 level. Similarly, ethanol RINs fell 28 percent to $1.43. The…