Add 'US Biofuel Producers Increase in Oct As Profitability Improved,'

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

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+<br>Renewable diesel [producers utilization](https://www.businessnews.com.au/Company/Mission-NewEnergy) at 77%, highest because July - AEGIS<br>
+<br>[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) manufacturers usage rate struck 89% in Oct, highest considering that June 2023<br>
+<br>Better credit rates, stronger diesel demand [stimulated](https://forest500.org/rankings/companies/mission-newenergy-limited) higher [activity -](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) analyst<br>
+<br>NEW YORK CITY, Jan 3 (Reuters) - U.S. renewable 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, assisted by [stronger margins](https://www.google.com/search?kgmid=/m/0cqd_rb) for the biofuels, according to data put together by advisory group AEGIS Hedging.<br>
+<br>Renewable diesel manufacturers made use of 77% of their total operable capability in October, the greatest because July 2024, the information showed. Biodiesel plant usage increased to 89%, the greatest since June 2023.<br>
+<br>Rising usage rates and enhancing [margins](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) are a welcome relief for the biofuels market, after operators sustained a rough start to 2024 as demand [development](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) slowed, leaving the marketplace oversupplied and [forcing](https://pitchbook.com/profiles/company/51278-86) a number of [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) plant closures.<br>
+<br>Both sustainable diesel and [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) are more expensive to produce than diesel, making providers dependent on government rewards such as tax credits. Among the 2, renewable diesel has actually emerged as the preferred fuel for providers, as it reaps much better incentives and can substitute diesel totally.<br>
+<br>Total [biodiesel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) production capability fell 4.2% year-over-year 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 many brand-new [biofuel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) plants opened in the past 3 years were geared towards it.<br>
+<br>Still, oversupply pressed eco-friendly diesel output capacity 6% lower in October from a record 4.90 billion gallons in June.<br>
+<br>In addition to plant closures, profitability for the industry in October was improved mainly by a surge in the worth of credits required for compliance with federal [biofuel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) mandates, [stated Zander](https://pitchbook.com/profiles/company/51278-86) Capozzola, vice president of [eco-friendly](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) fuels at AEGIS.<br>
+<br>D4 Renewable Identification Numbers, provided for biodiesel and renewable diesel production, [increased](https://www.pinterest.com.au/missionnewenergy/) from a low of 56 cents each in September to over 71 cents in October, enhancing profitability for making the fuels, Capozzola said.<br>
+<br>Margins were also assisted by more [powerful demand](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) for diesel, which hit a 1 year high in October, raising prices for both the conventional fuel and its options, he said.<br>
+<br>Prices for credits under the Low Carbon  [program](https://www.bloomberg.com/profile/company/MNELF:US) of California, where most biofuels are [consumed](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) in the U.S., likewise rose from below 60 cents each in Sept to over 70 cents each in October, according to AEGIS.<br>
+<br>"You really had everything rowing in the right instructions in October," [Capozzola stated](https://www.bloomberg.com/profile/company/MNELF:US). (Reporting by Shariq Khan in New York