The amendments proposed by the California Air Resources Board (CARB) are a net positive for biofuel demand but negative for soybean oil (SBO) and canola oil as feedstocks, sources told Fastmarkets. Within California’s LCFS framework, renewable diesel (RD) production consumes more soybean oil than biodiesel production does.
The CARB provided notice on August 12 that additional modifications (titled 15-Day Changes) were appropriate for the proposed amendments to the Low Carbon Fuel Standard (LCFS). The modifications include limiting, on a company-wide basis, the credits from the use of virgin soybean and canola oil to 20% of annual credit production and increasing the 2025 step-down benchmark stringency to 9%.
The benchmark schedule for average carbon intensity (CI) has been updated to include a 9% increase in stringency, achieving a 22.75% CI reduction compared with the 13.75% CI reduction specified in the 2018 regulation.
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01.14.2025
EIA raises US renewable diesel output forecast for 2024-25, lowers 2025 biodiesel production outlook
The US Energy Information Administration (EIA) raised its 2024 forecast for the production of renewable diesel (RD) in the US while maintaining its 2024 biodiesel output estimate in its...
01.14.2025
DCO tracks soybean oil prices higher; fats markets unchanged
Market activity for US animal fats and oils was relatively subdued on Tuesday January 14, though sources noted a bullish sentiment in the market.
01.14.2025
USDA raises 2024/25 forecast for GCAU count, lowers feed grain use estimate
Most US animal protein prices were flat to up day on day on Tuesday January 14. Animal protein products were slow to start the week, with light volumes traded,...