Add 'US Biofuel Producers Increase in Oct As Profitability Improved,'

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

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+<br>Renewable diesel [producers](https://www.pinterest.com.au/missionnewenergy/) usage at 77%, highest since July - AEGIS<br>
+<br>[Biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [manufacturers usage](https://www.zoominfo.com/c/mission-newenergy/346542889) rate hit 89% in Oct, greatest considering that June 2023<br>
+<br>Better credit prices, stronger diesel need [spurred](https://www.bloomberg.com/profile/company/MNELF:US) greater activity - analyst<br>
+<br>NEW YORK CITY, Jan 3 (Reuters) - U.S. eco-friendly diesel and [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) producers increase operations in October to multi-month highs, helped by [stronger margins](https://www.bloomberg.com/profile/company/MNELF:US) for the biofuels, according to information compiled by advisory group AEGIS Hedging.<br>
+<br>Renewable diesel producers used 77% of their overall operable capacity in October, the greatest since July 2024, the information revealed. [Biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) plant utilization increased to 89%, the greatest because June 2023.<br>
+<br>Rising usage rates and improving margins are a welcome relief for the biofuels market, after operators sustained a rough start to 2024 as demand growth slowed, [leaving](https://pitchbook.com/profiles/company/51278-86) the market oversupplied and requiring a [variety](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) plant closures.<br>
+<br>Both sustainable diesel and [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) are more expensive to produce than diesel, making providers reliant on federal government incentives such as tax credits. Among the 2, renewable diesel has become the [preferred fuel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) for providers, as it reaps much better incentives and can substitute diesel totally.<br>
+<br>Total [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) production capacity fell 4.2% year-over-year to about 2 billion gallons in October, according to data launched by the U.S. Energy Information Administration on Tuesday.<br>
+<br>Renewable diesel output capacity increased nearly 19% year-over-year to 4.58 billion gallons in October, the EIA data revealed, as the majority of [brand-new](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) [biofuel](https://www.crunchbase.com/organization/mission-newenergy) plants opened in the past 3 years were geared towards it.<br>
+<br>Still, oversupply pushed 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 for the market in October was increased generally by a rise in the value of credits required for compliance with federal [biofuel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) mandates, said Zander Capozzola, vice president of [renewable](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuels at AEGIS.<br>
+<br>D4 Renewable Identification Numbers, issued for [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and sustainable diesel production, increased from a low of 56 cents each in September to over 71 cents in October, [improving profitability](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) for making the fuels, Capozzola said.<br>
+<br>Margins were likewise helped by more  for diesel, which struck a 1 year high in October, [raising costs](https://www.zoominfo.com/c/mission-newenergy/346542889) for both the conventional 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., also increased from listed below 60 cents each in Sept to over 70 cents each in October, according to AEGIS.<br>
+<br>"You really had everything rowing in the best instructions in October," Capozzola stated. (Reporting by Shariq Khan in New York City