The US Environmental Protection Agency (EPA) approved a pathway for canola/rapeseed oil to be eligible to generate Renewable Identification Numbers (RINs) in the production of renewable diesel, renewable jet fuel, as well as renewable naphtha and renewable heating oil in December 2022. Prior to this ruling, canola oil could only generate RINs in the production of biodiesel.
Canola oil used in the production of biodiesel was 953 million pounds in 2021 (plus two months where data was not identified) and 1.25 billion pounds in 2022, according to Energy Information Administration (EIA) feedstock data. This occurred despite domestic biodiesel production falling from 1.7 billion gallons in 2021 to 1.62 billion in 2022.
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11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...