CoBank: Biobased diesel feedstock imports impact domestic soybean oil demand
SOURCE: CoBank
October 14, 2024
BY Erin Krueger
Soybean oil use for biobased diesel production reached a near-record high in June, but demand for soybean oil feedstock continues to face headwinds from rising imports of used cooking oil (UCO) and tallow, according to CoBank’s latest Quarterly Research Report, released Oct. 10.
According to the report, UCO and tallow imports now account for an estimated 1 out of 6 gallons of U.S.-produced biodiesel and renewable diesel. Most of those exports are currently coming from China and Brazil.
CoBank notes that the U.S. EPA has launched an investigation of the authenticity of UCO imports from China. With the 45Z Clean Fuel Production Credit scheduled to come into force at the end of the year, domestic producers are urging lawmakers to take action to ensure only fuel produced from domestically produced feedstocks is eligible to claim the credit. Within the report, CoBank cites administration officials as warning that such feedstock restrictions could result in trade retaliation.
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A full copy of the report is available on CoBank’s website.
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