Imports of biomass-based diesel (BBD) had been strong over the first half of 2024, with record amounts recorded during the first and second quarters. The pace was now slowing ahead of the 45Z Clean Fuel Production Tax Credit (CFPC) taking effect.
The US Inflation Reduction Act (IRA) will replace the current Blenders Tax Credit (BTC) with the CFPC on January 1, 2025.
Unlike the BTC, the CFPC can only be earned by US domestic fuel production, disincentivizing imports of biodiesel and renewable diesel (RD) when the end of the year approaches.
Biodiesel imports
US biodiesel imports were 23.1 million gallons in August, 8% lower than in July and 44% below the August 2023 import volume.
US biodiesel imports slowed to a 23-month low in August, with declining volumes from Canada more than offsetting a slight rise in imports from the EU and Asia.
…
11.06.2024
Biodiesel markets quiet; producers brace for 2025
Biodiesel trading has been subdued over the past week, with producers mostly filling contracts. Production economics have soured, and a lack of guidance on the Clean Fuel Production Tax...
11.06.2024
Animal fats and oils stable to lower despite rising SBO prices
The US animal fats and oils markets closed mostly lower on Wednesday November 6, diverging from the upward trends seen in the nearby soybean oil (SBO) complex.
More...
11.06.2024
US animal protein prices hold steady amid light trading
Prices were steady in the US animal protein market on Wednesday November 6, with market participants reporting light trading activity and a largely rangebound market.
US broiler slaughter