2025 Biodiesel Economics: High Stakes, Negative Margins, and a Looming Policy Reset

European biodiesel markets closed the week relatively firm in spot trading, but overall sentiment remains cautious. UCOME traded at $830/t for early May loadings, with FAME0 closing the day at $1,280/t, reflecting only marginal changes. In the ARAG window, outright prices nudged slightly higher alongside gasoil, but traders are increasingly watching forward curves where premiums for later loadings are eroding, hinting at underlying market softness.