05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
The US exported a record high of 177.6 million gallons of biodiesel during 2021. Exports eclipsed the prior 2020 record of 142.8 million gallons by nearly 25 percent. Canada was the leading destination for exports, receiving 80 percent of the yearly volume. Peru and the Netherlands were distant followers, collecting 11 percent and five percent respectively.
Biodiesel Imports surged during the fourth quarter, lifting total imports for the year to 203.3 million gallons. This was the largest volume of imports received since 2017 when anti-dumping and countervailing duties were imposed on Argentina and Indonesia for subsidizing shipments of biodiesel into the U.S. Canada was the largest supplier to the U.S., sending 56 percent of the yearly total. Imports from Germany and Spain were the next largest volumes received at 15 percent and 14 percent.
During…