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](https://www.pinterest.com.au/missionnewenergy/) usage at 77%, highest since July - AEGIS<br>
+<br>[Biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) producers [usage rate](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) struck 89% in Oct, highest because June 2023<br>
+<br>Better credit rates, stronger diesel demand stimulated greater activity - expert<br>
+<br>NEW YORK CITY, Jan 3 (Reuters) - U.S. eco-friendly diesel and [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producers increase operations in October to multi-month highs, helped by more powerful margins for the biofuels, according to information compiled by advisory group AEGIS Hedging.<br>
+<br>Renewable diesel producers utilized 77% of their total [operable capability](https://www.businessnews.com.au/Company/Mission-NewEnergy) in October, the highest because July 2024, the information revealed. [Biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) plant utilization rose to 89%, the greatest since June 2023.<br>
+<br>Rising utilization rates and improving margins are a welcome relief for the [biofuels](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) market, after [operators sustained](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) a rough start to 2024 as demand [development](https://www.zoominfo.com/c/mission-newenergy/346542889) slowed, leaving the marketplace oversupplied and forcing a number 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 are more pricey to produce than diesel, making providers depending on federal government incentives such as tax credits. Among the 2, eco-friendly diesel has [emerged](https://www.crunchbase.com/organization/mission-newenergy) as the preferred fuel for suppliers, as it gains better incentives and can replace diesel entirely.<br>
+<br>Total biodiesel production  fell 4.2% [year-over-year](https://www.bloomberg.com/profile/company/MNELF:US) to about 2 billion gallons in October, according to information launched by the U.S. Energy Information Administration on Tuesday.<br>
+<br>Renewable diesel output capability increased nearly 19% year-over-year to 4.58 billion gallons in October, the EIA information showed, as a lot of brand-new [biofuel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) plants opened in the past three years were geared towards it.<br>
+<br>Still, oversupply pushed eco-friendly diesel output capability 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 improved mainly by a surge in the worth of [credits required](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) for compliance with federal [biofuel](https://stocktwits.com/symbol/MNEL) mandates, said Zander Capozzola, vice president of renewable 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 [eco-friendly diesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) 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](https://www.google.com/search?kgmid=/m/0cqd_rb).<br>
+<br>Margins were also assisted by stronger need for diesel, which hit a 1 year high in October, raising prices for both the standard fuel and its options, he said.<br>
+<br>Prices for credits under the Low Carbon Fuel Standard program of California, where most biofuels are [consumed](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) in the U.S., also [increased](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) from listed 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. (Reporting by Shariq Khan in New York