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Certificate prices for Year 10 and Year 11 fell for the third successive week, as the weight of available biofuel supply further tightened the theoretical cap on ticket prices.
Year 11 certificates were heard trading at 16.25 p/certificate, according to market sources, in a week in which activity remained somewhat muted and the headlines were grabbed by rising oil prices and compressed biodiesel premiums.
A Germany-based biodiesel plant owned by US agribusiness conglomerate ADM has been mothballed in the wake of weak prices and a flood of cheap imports from Argentina and Indonesia, which are no longer subject to EU import duties.
Domestic air travel in Sweden could be powered by biofuels produced from the country’s plentiful forest residues rather than regular jet fuel, amid claims of a breakthrough in new research published this week.
Brazil’s biggest sugar and ethanol trader Copersucar expects 2018/19 ethanol output from the center-south cane crop to grow by 5.4% to 27.5 billion litres, despite a smaller regional crop versus last season.
Another week in which activity for UK RTFCs bordered on the theoretical rather than the actual, as Year 10 certificates remained on the shelf while Year 11 at least generated some buying and selling price information.
The week started with the RTFO being signed off in the House of Lords in the final step prior to its acceptance onto the statute books.
UK ethanol producer Vivergo could be poised to restart its biofuel plant market sources said Friday, after the company publicly mothballing the facility on poor margins in December.
Brazil raised its biodiesel mandate to 10% on March 1 from the previous 8%, with the change expected to boost demand by nearly 25% for the biofuel this year, according to the Mines and Energy Ministry.
In the end, it was as painless as the government said it would be – the revamped Renewable Transport Fuel Obligation order was passed unanimously through the House of Lords during the final stage of the Statutory Instrument process, Tuesday.
For the third week Year 10 RTFCs were unchanged, to be assessed at 15.3 p per certificate as market sources reported further small trading volumes occurring at that level this week.
The UK’s Department for Transport has signalled that it will introduce a raft of measures to improve guidance and support to industry participants affected by changes currently being made to the Renewable Transport Fuel Obligation.
Proposed changes to the Renewable Transport Fuel Obligation have cleared their first hurdle in parliamentary committee with the Draft Renewable Transport Fuels and Greenhouse Gas Emissions Regulations 2018 passed unanimously during a delegated legislation committee, Monday.
Conflicting forces conspired to keep RTFC values in check Friday, with any interest focused on Year 10 certificates as Year 11 manfully continues to await action from the UK government.
The European Commission has signalled a review into anti-dumping measures that have been in place for five years that target US ethanol imports – a measure that effectively defers a decision for another 15 months.
The US Commerce Department has increased what were already punitive anti-dumping duties on biodiesel imports from Argentina and Indonesia, effectively blocking off palm and soybean derived fuels from entering the US market.
RTFCs showed signs of shrugging off the winter quiet spell, as buying interest picked up and Year 10 sellers "pounced".
Germany’s consumption of biodiesel rose 2% in January-November 2017 compared with the first 11 months in 2016 as tighter CO2 targets for biofuels increased consumption of products that have a lower carbon footprint than bioethanol.
Year 10 and Year 11 certificates were assessed unchanged on Friday at 15 p for Year 10 and 15.5 p for Year 11 as a familiar pattern held sway over RTFC prices.
Waste-to-energy producer Enerkem has landed one of the biggest venture capital deals ever in Canada, securing C$280m ($221m) in investments that will be used to fund a global expansion.