“This will not be a typical December in the US biodiesel market” one fuel trader said.
Historically, production is strong in December, with producers working to capitalize on the Blenders Tax Credit (BTC) carryover into the next year. This year, production is slowing and first quarter feedstock purchases are being delayed, Fastmarkets has heard.
Most traders replying to Fastmarkets’ B100 market price survey had the same response: “Nothing trading here, it’s a crazy market.”
With the BTC expiring and a lack of guidance on how the Clean Fuel Production Credit will be calculated, stand-alone biodiesel facilities are planning to either shut down for maintenance or reduce operating capacity.
“[Biodiesel production is] not what I consider normal activity. In fact, I would say it is way below normal for this time of the year,” a fuel blender said.
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