Monthly LCFS credit transactions reached an all-time high of 5.6 million in California. Credit transfers were 107 percent above the 2.7 million traded in March and 22 percent over the 4.6 million transacted during April 2022.
The average price paid per credit in California increased a dollar to $74 in April. Transactions are at an all-time high, but prices are near multi-year lows. The average price paid in April was 52 percent below the price paid a year earlier.
Credit generation has outpaced expectations in California, causing the credit bank to swell to a record high of 15 million. The bank has reached consecutive new highs in the past four quarters. Prior to the year-long credit run, the previous credit bank high credit bank was 9.9 million, set in Q3 of 20217. The credit bank is currently 51 percent above that level.
California LCFS prices may…
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...