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 because July - AEGIS<br>
+<br>[Biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) [manufacturers utilization](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) rate struck 89% in Oct, highest considering that June 2023<br>
+<br>Better credit prices, more powerful diesel demand stimulated greater [activity -](https://www.bloomberg.com/profile/company/MNELF:US) expert<br>
+<br>NEW YORK CITY, Jan 3 (Reuters) - U.S. eco-friendly diesel and [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) producers increase operations in October to multi-month highs, assisted by more powerful margins for the biofuels, according to information assembled by advisory group AEGIS Hedging.<br>
+<br>Renewable [diesel manufacturers](https://forest500.org/rankings/companies/mission-newenergy-limited) made use of 77% of their overall operable capacity in October, the highest given that July 2024, the information showed. [Biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) plant usage [increased](https://www.businessnews.com.au/Company/Mission-NewEnergy) to 89%, the highest considering that June 2023.<br>
+<br>Rising utilization rates and enhancing margins are a welcome relief for the biofuels industry, after operators endured a [rough start](https://www.crunchbase.com/organization/mission-newenergy) to 2024 as need growth slowed, leaving the market oversupplied and requiring a [variety](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) of [biodiesel](https://www.pinterest.com.au/missionnewenergy/) plant closures.<br>
+<br>Both renewable diesel and biodiesel are more expensive to produce than diesel, making providers dependent on government incentives such as tax credits. Among the 2, sustainable diesel has actually become the favored fuel for providers, as it enjoys better incentives and can replace diesel totally.<br>
+<br>Total biodiesel production capacity fell 4.2% year-over-year to about 2 billion [gallons](https://pitchbook.com/profiles/company/51278-86) in October, according to [data launched](https://forest500.org/rankings/companies/mission-newenergy-limited) by the U.S. Energy Information Administration on Tuesday.<br>
+<br>[Renewable diesel](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) output capability rose almost 19% year-over-year to 4.58 billion gallons in October, the [EIA data](https://stocktwits.com/symbol/MNEL) showed, as many new [biofuel](https://www.google.com/search?kgmid=/m/0cqd_rb) plants opened in the previous three years were geared towards it.<br>
+<br>Still, oversupply pressed sustainable diesel output capability 6% lower in October from a record 4.90 billion [gallons](https://stocktwits.com/symbol/MNEL) in June.<br>
+<br>In addition to plant closures, profitability for the market in October was improved generally by a rise in the worth of credits required for compliance with federal [biofuel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) requireds, stated Zander Capozzola, vice president of renewable fuels at AEGIS.<br>
+<br>D4 Renewable Identification Numbers, released for biodiesel and eco-friendly diesel production, increased from a low of 56 cents each in September to over 71 cents in October, enhancing success for making the fuels, Capozzola stated.<br>
+<br>[Margins](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) were likewise  by stronger need for diesel, which hit an one-year high in October, raising costs for both the conventional fuel and its alternatives, he stated.<br>
+<br>Prices for credits under the Low Carbon [Fuel Standard](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) program of California, where most biofuels are [consumed](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) in the U.S., likewise rose from below 60 cents each in Sept to over 70 cents each in October, according to AEGIS.<br>
+<br>"You truly had everything rowing in the best direction in October," [Capozzola](https://www.crunchbase.com/organization/mission-newenergy) said. (Reporting by Shariq Khan in New York