The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel producers don’t seem to have noticed.
Biodiesel margins came under pressure in late 2023 but have since recovered, allowing producers to put in strong production numbers over the first quarter of 2024. First-quarter production is five percent above the first quarter of 2023, and 13% over the first quarter of 2022.
Biodiesel production is trending higher in the US, keeping the supply of glycerin, a co-product of biodiesel production, elevated. Prices are not uniform across the US. On the West Coast, there is a shortage of crude glycerin, keeping prices somewhat supported, while in the Midwest, the supply of crude glycerin is substantial, according to sources.
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