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

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+<br>[Renewable diesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) manufacturers usage at 77%, greatest since July - AEGIS<br>
+<br>Biodiesel manufacturers [utilization rate](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) struck 89% in Oct, greatest given that June 2023<br>
+<br>Better credit rates, [stronger diesel](https://www.crunchbase.com/organization/mission-newenergy) need spurred higher [activity -](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) analyst<br>
+<br>NEW YORK, Jan 3 (Reuters) - U.S. sustainable diesel and biodiesel producers increase operations in October to [multi-month](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) highs, helped by stronger margins for the biofuels, according to information compiled by [advisory](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) group AEGIS Hedging.<br>
+<br>Renewable diesel producers made use of 77% of their overall operable capacity in October, the highest since July 2024, the information revealed. [Biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) plant utilization increased to 89%, the highest because June 2023.<br>
+<br>Rising utilization 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 the marketplace oversupplied and forcing a number of biodiesel plant closures.<br>
+<br>Both [sustainable diesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) are more costly to produce than diesel, making [suppliers depending](https://www.pinterest.com.au/missionnewenergy/) on [government rewards](https://www.zoominfo.com/c/mission-newenergy/346542889) such as tax credits. Among the 2, renewable diesel has become the preferred fuel for suppliers, as it gains better incentives and can replace diesel completely.<br>
+<br>Total [biodiesel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) production [capability fell](https://www.google.com/search?kgmid=/m/0cqd_rb) 4.2% year-over-year to about 2 billion gallons in October, according to information released 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 information showed, as many new [biofuel](https://stocktwits.com/symbol/MNEL) plants opened in the previous 3 years were tailored towards it.<br>
+<br>Still, oversupply pressed [eco-friendly](https://pitchbook.com/profiles/company/51278-86) diesel output capacity 6% lower in October from a record 4.90 billion gallons in June.<br>
+<br>In addition to plant closures, [success](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) for the industry in October was [increased](https://www.zoominfo.com/c/mission-newenergy/346542889) generally by a surge in the worth of credits required for compliance with  requireds, said Zander Capozzola, vice president of eco-friendly fuels at AEGIS.<br>
+<br>D4 Renewable Identification Numbers, released for biodiesel and renewable diesel production, increased from a low of 56 cents each in September to over 71 cents in October, enhancing profitability for making the fuels, Capozzola stated.<br>
+<br>Margins were also [assisted](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) by more [powerful](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) need for diesel, which struck an one-year high in October, raising costs for both the standard fuel and its alternatives, he said.<br>
+<br>Prices for credits under the Low Carbon Fuel Standard [program](https://stocktwits.com/symbol/MNEL) 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 truly had whatever rowing in the best direction in October," Capozzola stated. (Reporting by Shariq Khan in New York City