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+<br>Company makes 3rd cut to renewables organization outlook this year<br>
+<br>[Reduces](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) both margin and volume outlook<br>
+<br>Weaker diesel market strikes [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) rates<br>
+<br>(Adds expert, background, detail in [paragraphs](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 2-3, 9-11)<br>
+<br>By Elviira Luoma and Essi Lehto<br>
+<br>HELSINKI, Sept 11 (Reuters) - Finnish [refiner](https://www.bloomberg.com/profile/company/MNELF:US) Neste on Wednesday cut the margin outlook for its [biofuel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) organization for the 3rd time this year due to falling costs and likewise lowered its [expected sales](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) volumes, sending out the [business's share](https://www.pinterest.com.au/missionnewenergy/) rate down 10%.<br>
+<br>Neste said a drop in the price of routine diesel had [impacted](https://www.zoominfo.com/c/mission-newenergy/346542889) what it can charge for the [biofuel](https://stocktwits.com/symbol/MNEL) it makes in Europe and Singapore, while input costs for waste and residue feedstock stayed high.<br>
+<br>A rush by U.S. fuel makers to [recalibrate](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) their plants to produce sustainable diesel has actually created a supply excess of low-emissions biofuels, hammering revenue [margins](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) for refiners and threatening to restrain the [nascent industry](https://www.crunchbase.com/organization/mission-newenergy).<br>
+<br>Neste in a declaration slashed the anticipated average equivalent sales margin of its renewables unit to in between $360-$480 per tonne of [biofuel](https://www.crunchbase.com/organization/mission-newenergy), down from $480-$580 per tonne seen in July and well below the $600-$800 seen in February.<br>
+<br>The company now likewise expects renewables-based sales volumes in 2024 to be about 3.9 million tonnes instead of the 4.4 million it had actually anticipated since the start of the year, it .<br>
+<br>A part of the volume cut originated from the production of sustainable aviation fuel, of which it is now anticipated to offer in between 350,000-550,000 tonnes this year, down from between 500,000 and 700,000 tonnes seen previously, Neste said.<br>
+<br>"Renewable products' list prices have been adversely affected by a considerable decrease in (the) diesel rate during the 3rd quarter," Neste stated in a statement.<br>
+<br>"At the same time, waste and residue feedstock rates have not decreased and renewable item market value premiums have actually stayed weak," the business added.<br>
+<br>Industry executives and analysts have said quickly expanding Chinese [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producers are seeking brand-new [outlets](https://www.bloomberg.com/profile/company/MNELF:US) in Asia for their exports, while Shell and BP have actually revealed they are stopping briefly [expansion strategies](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) in Europe.<br>
+<br>While the cut in Neste's assistance on sales volumes of sustainable aviation fuel came as a surprise, the negative effect on [biodiesel](https://www.pinterest.com.au/missionnewenergy/) margins from a lower diesel cost was to be expected, Inderes analyst Petri [Gostowski stated](https://www.investing.com/equities/mission-newenergy-ltd-company-profile).<br>
+<br>[Neste's share](https://www.google.com/search?kgmid=/m/0cqd_rb) rate had [reversed](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) some losses by 1037 GMT however stayed down 5.8% on the day and 48% lower year-to-date. (Reporting by Elviira Luoma, Essi Lehto and Boleslaw Lasocki
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