07.05.2024
US BOHO spread rises 45%; RINs not keeping pace
The soybean oil/heating oil spread (BOHO) in the US rocketed 45% higher this week on rising soybean oil costs. The BOHO is a common metric used to gauge the...
The US biofuel industry consumed 1.77 billion lbs of vegetable oil as a feedstock during April, up by 6% from March and up by 20% from the 1.5 billion lbs consumed in April 2023, according to data released on Friday June 28 by the Energy Information Administration (EIA). Total feedstock consumption reached 3.07 billion lbs and vegetable oils accounted for 58% of the total.
Soybean oil and canola oil are the primary vegetable oil feedstocks used in the production of biodiesel and renewable diesel. Prices for these commodities reached a near-term peak in March, with vegetable oil prices softening throughout April and early May.
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