11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
US biodiesel imports rose sharply in April, offsetting low levels in March, according to data released on Friday June 28 by the US Energy Information Administration (EIA).
Imports of renewable diesel — also known as hydrotreated vegetable oil (HVO) — were slightly lower month on month but remained strong, with 2024 on track to reach the highest yearly renewable diesel imports on record.
Biodiesel imports
The US imported 60.9 million gallons of biodiesel in April, up from 27.5 million gallons during March, which had set a 17-month low.
Average monthly biodiesel imports were at 51 million gallons for the first four months of 2024, well above the monthly average of 41.8 million gallons in January-April 2023.
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