Add 'US Biofuel Producers Ramped up in Oct As Profitability Improved,'

US-Biofuel-Producers-Ramped-up-in-Oct-As-Profitability-Improved%2C.md

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+<br>Renewable diesel producers usage at 77%, highest given that July - AEGIS<br>
+<br>[Biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) producers usage rate struck 89% in Oct, greatest given that June 2023<br>
+<br>Better credit rates, stronger diesel demand spurred higher [activity -](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) analyst<br>
+<br>NEW YORK CITY, Jan 3 (Reuters) - U.S. sustainable diesel and [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [manufacturers ramped](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) up  in October to multi-month highs, helped by stronger margins for the biofuels, according to information compiled by advisory group AEGIS Hedging.<br>
+<br>Renewable diesel manufacturers used 77% of their total operable capability in October, the highest since July 2024, the information revealed. [Biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) plant utilization rose to 89%, the highest because June 2023.<br>
+<br>[Rising utilization](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) rates and improving margins are a welcome relief for the biofuels market, after operators withstood a rough start to 2024 as need growth slowed, leaving the marketplace oversupplied and requiring a number of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) plant closures.<br>
+<br>Both [sustainable diesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) are more costly to produce than diesel, making suppliers based on government incentives such as tax credits. Among the 2, sustainable diesel has actually [emerged](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) as the preferred fuel for suppliers, as it gains better incentives and can [replace diesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) entirely.<br>
+<br>Total biodiesel production capacity fell 4.2% year-over-year to about 2 billion [gallons](https://www.google.com/search?kgmid=/m/0cqd_rb) in October, according to data released by the U.S. Energy Information Administration on Tuesday.<br>
+<br>Renewable diesel output capability increased almost 19% [year-over-year](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to 4.58 billion gallons in October, the EIA information showed, as many new [biofuel plants](https://www.businessnews.com.au/Company/Mission-NewEnergy) opened in the previous three years were geared towards it.<br>
+<br>Still, oversupply pressed renewable diesel output capability 6% lower in October from a record 4.90 billion gallons in June.<br>
+<br>In addition to plant closures, [profitability](https://www.pinterest.com.au/missionnewenergy/) for the industry in October was enhanced generally by a surge in the value of credits needed for compliance with federal [biofuel](https://stocktwits.com/symbol/MNEL) mandates, stated Zander Capozzola, vice [president](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) of [renewable](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) fuels at AEGIS.<br>
+<br>D4 Renewable Identification Numbers, provided for [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) and renewable diesel production, increased from a low of 56 cents each in September to over 71 cents in October, improving success for making the fuels, [Capozzola stated](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048).<br>
+<br>Margins were also assisted by [stronger demand](https://pitchbook.com/profiles/company/51278-86) for diesel, which hit a 1 year high in October, raising prices for both the standard fuel and its options, he stated.<br>
+<br>Prices for credits under the Low Carbon Fuel Standard program of California, where most biofuels are consumed in the U.S., likewise rose from listed below 60 cents each in Sept to over 70 cents each in October, according to AEGIS.<br>
+<br>"You actually had everything rowing in the ideal instructions in October," Capozzola stated. (Reporting by Shariq Khan in New York