Renewable identification numbers (RINs) are credits used for compliance in the renewable fuel standard (RFS) and are the “currency” of the program.
The proposed renewable volume obligation (RVO) for biomass-based diesel blending is 2.43 billion gallons for 2021, increasing to 2.76 billion gallons for 2022. Soybean oil is the most used feedstock in the production of biomass-based diesel, accounting for 47 percent of the feedstocks used in 2021 biomass-based diesel production, according to the Energy Information Administration (EIA).
With RVO compliance increasing in 2022, demand for soybean oil is expected to rise. The USDA’s EPA Moderated Transaction System (EMTS) data shows 2021 biomass-based diesel blending generated 1.4 billion soybean oil-based biodiesel RINs and 292 million soybean oil based renewable diesel RINs.
Converting RINs to gallons shows 1.13…
04.19.2024
Reduced March RIN production not leading to higher RIN Prices
Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...
04.19.2024
CWG, YG higher on week, UCO, DCO down again
The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.
04.19.2024
Price pressure on ruminant and porcine items for the week
Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.
Wide ranges were witnessed on porcine bloodmeal (BM), with a...