Market price

The price rally will continue in 2022,

US biodiesel prices soared 59% year-on-year last year, making biofuel less competitive than fossil fuels. The average FOB price of U.S. B100 biodiesel was $5.58 per gallon in November 2021, while the average highway price of conventional diesel was $3.74 per gallon.

LOS ANGELES, 02 Feb. 2022 (GLOBE NEWSWIRE) — U.S. biodiesel prices soared in 2021 and are expected to continue rising this year, a recent report by market research firm IndexBox reveals. According to USDA data, the average FOB spot export price of B100 biodiesel from plants in Illinois, Indiana and Ohio reached $5.58 per gallon in November 2021, up by 59% compared to 2020. The average on-road price of conventional diesel has increased by 41%. %y/y at $3.64 per gallon, still well below biodiesel.

Rising plant feedstock and energy costs are the main reasons for the increase in biodiesel prices and the further push in biofuel prices this year. According to forecasts by the World Bank, the price of soybean oil, one of the main types of feedstock for the production of biodiesel, is expected to increase by almost 4% to reach $ 1,425 per ton in 2022. The cost of fossil fuels is also expected to remain at a high level. level of 2021, which implies an increase in energy expenditure in the manufacture of biodiesel.

US biodiesel exports by country

US biodiesel exports jumped to 476,000 tonnes in 2020, up 25% from the previous year’s figure. In terms of value, supplies fell slightly to $381 million.

Canada (424,000 tonnes) was the top destination for US biodiesel exports, with an 89% share of total supplies. In addition, exports to Canada exceeded the volume sent to the second main destination, Peru (19,000 tonnes), more than tenfold. The Netherlands took third place in this ranking (14,000 tonnes), with a share of 2.9%.

In terms of value, Canada ($351M) remains the largest foreign market for US biodiesel, accounting for 92% of total exports. The second position in the ranking is occupied by the Netherlands (9.9 million dollars), with a share of 2.6% of the total supply. It was followed by Peru, with a share of 2.3%.

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IndexBox is a market research company developing an AI-powered market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade and prices for over 10,000 different products in 200 countries.

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Companies mentioned in the report

Cosan, Renewable Energy Group, Verbio, Green Plains, Aemetis, Gevo, American Resources, Green Plains Partners, REX American Resources, Targray, RW Davis Oil Co., Merrimac Energy Group, Dreyfus, Aemetis, Inc., Shipley Energy, Hightowers Petroleum Co., SK Chemicals America, Alternative Petroleum Technologies, Golden Leaf Energy, Taylor Oil Co., Seaport Refining, World Energy, Pacific Biodiesel Technologies, Phoenix Petroleum Co., Western States Petroleum, KCA Solar Power Generating Company Ltd, Piedmont Biofuels Industrial, GPM Empire, Delek US Holdings Inc., RKA Petroleum Companies, Sunpol Resins & Polymers, Ricochet Fuel Distributors

Sources

United States – Biodiesel – Market Analysis, Forecast, Size, Trends and Prospects

World – Biodiesel – Market analysis, forecasts, size, trends and prospects

World – Crude palm oil – Market analysis, forecasts, size, trends and prospects

Global – Crude Soybean Oil – Market Analysis, Forecast, Size, Trends and Outlook

Global – Ethyl Alcohol – Market Analysis, Forecast, Size, Trends and Outlook