US biofuel demand for vegetable oil as feedstock rising

US biofuel demand for vegetable oil as feedstock rising

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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