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+<br>[Company](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) makes third cut to renewables organization outlook this year<br>
+<br>Reduces both margin and volume outlook<br>
+<br>[Weaker diesel](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) market strikes [biofuel](https://www.pinterest.com.au/missionnewenergy/) prices<br>
+<br>(Adds analyst, background, detail in paragraphs 2-3, 9-11)<br>
+<br>By [Elviira Luoma](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and Essi Lehto<br>
+<br>HELSINKI, Sept 11 (Reuters) [- Finnish](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) refiner Neste on Wednesday cut the margin outlook for its [biofuel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) service for the third time this year due to falling rates and likewise reduced its anticipated sales volumes, sending the company's share rate down 10%.<br>
+<br>Neste stated a drop in the cost of regular diesel had affected what it can charge for the [biofuel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) it makes in Europe and Singapore, while [input costs](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) for waste and residue feedstock [remained](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) high.<br>
+<br>A rush by U.S. fuel makers to  their plants to produce renewable diesel has developed a supply glut of low-emissions biofuels, [hammering earnings](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) margins for refiners and threatening to hinder the nascent market.<br>
+<br>Neste in a statement slashed the expected typical comparable sales margin of its renewables unit to between $360-$480 per tonne of [biofuel](https://www.businessnews.com.au/Company/Mission-NewEnergy), below $480-$580 per tonne seen in July and well below the $600-$800 seen in February.<br>
+<br>The company now also expects renewables-based sales [volumes](https://www.crunchbase.com/organization/mission-newenergy) in 2024 to be about 3.9 million tonnes rather of the 4.4 million it had predicted given that the start of the year, it added.<br>
+<br>A part of the volume cut originated from the production of sustainable air travel fuel, of which it is now expected to offer between 350,000-550,000 tonnes this year, down from in between 500,000 and 700,000 tonnes seen previously, Neste stated.<br>
+<br>"Renewable products' prices have been negatively impacted by a considerable decrease in (the) diesel cost throughout the 3rd quarter," Neste stated in a declaration.<br>
+<br>"At the same time, waste and residue feedstock costs have actually not reduced and sustainable item market value premiums have actually stayed weak," the business added.<br>
+<br>Industry executives and experts have actually stated quickly broadening Chinese [biodiesel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) producers are [seeking](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) new [outlets](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in Asia for their exports, while Shell and BP have actually revealed they are pausing growth plans in Europe.<br>
+<br>While the cut in Neste's assistance on sales [volumes](https://pitchbook.com/profiles/company/51278-86) of sustainable air travel fuel came as a surprise, the unfavorable effect on [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) margins from a [lower diesel](https://www.crunchbase.com/organization/mission-newenergy) cost was to be anticipated, [Inderes analyst](https://www.zoominfo.com/c/mission-newenergy/346542889) Petri Gostowski stated.<br>
+<br>[Neste's share](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) rate had actually reversed some losses by 1037 GMT but remained down 5.8% on the day and 48% lower year-to-date. (Reporting by Elviira Luoma, [Essi Lehto](https://forest500.org/rankings/companies/mission-newenergy-limited) and Boleslaw Lasocki
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