05.02.2024
UCO, heating oil spread widens
Yellow grease traded as low as 34 cents per lb delivered Carolinas on Thursday May 2, with additional volume heard at 36 cents per lb. Despite the decrease, offers...
Soybean Oil Accounted for 47% of Biomass-Based Diesel Feedstock in 2021
Renewable identification numbers (RINs) are credits used for compliance in the renewable fuel standard (RFS) and are the “currency” of the program.
The proposed renewable volume obligation (RVO) for biomass-based diesel blending is 2.43 billion gallons for 2021, increasing to 2.76 billion gallons for 2022. Soybean oil is the most used feedstock in the production of biomass-based diesel, accounting for 47 percent of the feedstocks used in 2021 biomass-based diesel production, according to the Energy Information Administration (EIA).
With RVO compliance increasing in 2022, demand for soybean oil is expected to rise. The USDA’s EPA Moderated Transaction System (EMTS) data shows 2021 biomass-based diesel blending generated 1.4 billion soybean oil-based biodiesel RINs and 292 million soybean oil based renewable diesel RINs.
Converting RINs to gallons shows 1.13…