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…
05.06.2024
Strong biodiesel production seen weighing on crude glycerin prices
The whispers of declining biodiesel production are meeting with resistance. Some observers have been sounding the alarm regarding declining production for over a year now, but if true, biodiesel...
05.06.2024
Average weekly hog slaughter to decrease into mid-June: Fastmarkets’ research team
Distillers’ corn oil (DCO) prices fell to 42-43.5 cents per lb delivered US Gulf on Monday May 6 for May-June shipments. There was additional trading reported on the same...
05.06.2024
Year-to-date commercial cattle production falls 2.30% y-o-y
US animal proteins prices were steady on Monday May 6. Limited trade was reported, with several market participants only testing prices, Fastmarkets heard.
US hog slaughter
Fastmarkets research...