Biodiesel Prices, Monitor, Analysis & Demand

North America

As the 4th quarter of 2023 concluded, the biodiesel market in the USA experienced a notable decline in prices, primarily attributed to the decrease in the price of its key feedstock, sunflower oil. This decline can be linked to various factors influencing the biodiesel market dynamics. Sunflower oil, a crucial component in biodiesel production, witnessed a reduction in its market value, contributing to the overall downtrend in biodiesel prices.

The decline in sunflower oil prices influenced by factors such as changes in global vegetable oil supply and demand, agricultural production trends, and geopolitical factors affecting oilseed markets. The biodiesel market in the USA responded to the lower feedstock costs with a decline in prices, making the alternative fuel more economically attractive. The availability of ample inventories among suppliers and decreased demand from major industrial sectors may have further contributed to the downward trend.

Additionally, the impact of global market conditions, trade policies, and energy market dynamics can play a role in shaping biodiesel prices. It's important to note that the biodiesel market is intricately connected to fluctuations in feedstock prices, and the decline observed in the 4th quarter reflects the broader dynamics influencing the industry. This price decline has impacted various stakeholders in the biodiesel supply chain, from producers to end-users, as they navigate the evolving market conditions.

APAC

As the 4th quarter of 2023 came to a close, the price of Biodiesel in Indonesia displayed a declining trend primarily linked to the decrease in the price of its key feedstock, palm oil, in the market. The countervailing duties matter between Europe and Indonesia has resulted in lowering the export business from Indonesia. The decline in prices was influenced by adequate inventories and reduced bidding activities from buyers. Major importers holding substantial inventory levels led to decreased exports to Asian countries and modest demand within the domestic market. Export patterns of Biodiesel from Indonesia to China and Europe experienced a decline, with producers cautious about flexible terms for bulk purchases. Limited cost support in the upstream palm oil market contributed to a reduction in production costs. The B35 blending program in Indonesia, blending 35% of Biodiesel with fossil fuel, continues to operate on the edge. The domestic downstream market showed moderate demand for Biodiesel, while major importing countries exhibited subdued interest. As of this quarter, the price of Biodiesel concluded at 1719 USD/MT Ex-Tanjung Priok, marking a decline of 1.99%.

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Europe

As the 4th quarter of 2023 concluded, Biodiesel prices in Europe, particularly in Germany, exhibited a declining trend. This decline has been primarily attributed to a reduction in prices of feedstock majorly Rapeseed Oil with influenced by factors like the ongoing investigation by the European Union (EU) into biodiesel imports from China. The EU's investigation has disrupted the trading relationship, causing significant impacts on both the demand and supply chain within the region. Despite moderate demand from the downstream market, the overall contraction in the European Union's economy and lower industrial performance have notably influenced the demand for Biodiesel in Germany. The price movement observed since August has been shaped by Long Unwinding activities, followed by a shift to short buildup activities initiated by traders toward the end of September. This transition has contributed to a downward trajectory in biodiesel prices. Traders are approaching the market cautiously, given the absence of confirmation that prices have reached their lowest point and may soon rebound. As of this quarter, the price of Biodiesel concluded at 1804 USD/MT FD-Hamburg, marking a substantial decline of 21.83%.

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