California’s Low Carbon Fuel Standard (LCFS) credit bank reached an all-time high of 29.19 million at the end of the second quarter 2024, according to data released by California’s Air Resource Board (CARB) on October 31.
Biodiesel and renewable diesel (RD) played a noticeable role in the credit increase, with adoption of the two fuels rising from 0.40% of the distillate volume to 74.2% of the volume halfway through 2024.
RD consumption has risen every year and currently accounts for 67% of the distillate market share.
Biodiesel consumption peaked at 7.7% in 2021, tapering off to a 7.4% market share in 2023, and has been 7.2% through the second quarter of 2024.
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11.11.2024
Falling biodiesel margins lead to expectations for higher RINs, lower feedstock cost
Biodiesel margins continued to fall during the week ending Friday November 8, with rising feedstock cost pushing the soybean oil/heating oil (BOHO) spread to its highest level in more...
11.11.2024
DCO starts the week higher; hog slaughter increases slightly
Distillers’ corn oil (DCO) traded higher out of the FOB Midwest markets on Monday November 11 in what was otherwise a quiet market to start the week.
A...
11.11.2024
US cattle slaughter continues to fall behind 2023 levels
Trading was quiet in the US animal protein market on Monday November 11, with no price changes reported.
Cattle slaughter
Fastmarkets’ research team forecasts cattle slaughter at 625,000...