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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10.17.2024
US DOE to guarantee nearly $3 billion in SAF loans to Gevo, Montana Renewables
The US Department of Energy’s Loan Programs Office announced on Wednesday October 16 conditional commitments for up to $2.9 billion in loans for two sustainable aviation fuel (SAF) producers.
10.17.2024
US fats and oils markets quiet amid industry event; DCO production up
The US animal fats and oils markets were quiet on Thursday October 17, with the majority of participants attending the American Fats and Oils Association (AFOA) event in Nashville.
The...
10.17.2024
US animal proteins market steady on October 17
US animal protein prices were steady on Thursday October 17, with market participants indicating a slow day for trading.
September USDA Feed Outlook
Grain consuming animal units (GCAUs)...