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 manufacturers usage at 77%, highest given that July - AEGIS<br>
+<br>Biodiesel manufacturers utilization rate hit 89% in Oct, greatest considering that June 2023<br>
+<br>Better credit prices, stronger diesel demand stimulated higher activity - analyst<br>
+<br>NEW YORK, Jan 3 (Reuters) - U.S. eco-friendly diesel and [biodiesel producers](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) increase operations in October to multi-month highs, helped by stronger margins for the biofuels, according to information put together by advisory group AEGIS Hedging.<br>
+<br>Renewable diesel producers utilized 77% of their total operable capability in October, the highest because July 2024, the data [revealed](https://www.bloomberg.com/profile/company/MNELF:US). [Biodiesel](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) plant utilization rose to 89%, the greatest since June 2023.<br>
+<br>Rising usage rates and [enhancing margins](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) are a welcome relief for the biofuels industry, after [operators endured](https://pitchbook.com/profiles/company/51278-86) a rough start to 2024 as need development slowed, leaving the market oversupplied and requiring a number of biodiesel plant closures.<br>
+<br>Both renewable diesel and [biodiesel](https://www.bloomberg.com/profile/company/MNELF:US) are more costly to produce than diesel, making providers depending on federal government incentives such as tax credits. Among the 2, [sustainable](https://www.bloomberg.com/profile/company/MNELF:US) diesel has become the preferred fuel for suppliers, as it reaps much better [incentives](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) and can substitute diesel entirely.<br>
+<br>Total [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) production capability fell 4.2% year-over-year to about 2 billion [gallons](https://pitchbook.com/profiles/company/51278-86) in October, according to [data released](https://pitchbook.com/profiles/company/51278-86) by the U.S. Energy Information Administration on Tuesday.<br>
+<br>Renewable diesel output capacity rose nearly 19% year-over-year to 4.58 billion [gallons](https://www.bloomberg.com/profile/company/MNELF:US) in October, the EIA data revealed, as many brand-new biofuel plants opened in the past three years were geared towards it.<br>
+<br>Still, oversupply pushed renewable diesel [output capacity](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) 6% lower in October from a record 4.90 billion gallons in June.<br>
+<br>In addition to plant closures, success for the industry in October was [enhanced](https://www.pinterest.com.au/missionnewenergy/) mainly by a surge in the value of credits required for compliance with federal [biofuel](https://www.pinterest.com.au/missionnewenergy/) requireds, [stated Zander](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) Capozzola, vice president of sustainable fuels at AEGIS.<br>
+<br>D4 Renewable Identification Numbers, released for [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and sustainable diesel production, rose 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 were likewise helped by more powerful demand for diesel, which struck an one-year high in October, [raising rates](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) for both the traditional fuel and its options, he stated.<br>
+<br>Prices for [credits](https://www.bloomberg.com/profile/company/MNELF:US) under the Low Carbon Fuel Standard program of California, where most biofuels are [consumed](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in the U.S., also  from below 60 cents each in Sept to over 70 cents each in October, according to AEGIS.<br>
+<br>"You really had whatever rowing in the ideal direction in October," [Capozzola stated](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/). (Reporting by Shariq Khan in New York City