Margins frozen at breakeven on screen at -0.94c/gal but negative on a cashflow basis for US producers as Renewable diesel cannibalizes conventional Biodiesel market therefore Vegetable oil feedstock prices not moving. In fact Bean oil futures have dropped 15% in last 3 months in line with Gasoil therefore BOGO is really unchanged at +$460/mt. In Northwest Europe the lack of demand for Biodiesel is reflected with FAME 0 (summer biodiesel) premium dropping $117/mt to +$230 in the last 2 weeks - that is $230/mt below BOGO. Geopolitical uncertainties continue to weigh on sentiment in Europe despite clarifications given by commission on Annex IX.
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