Latest news with #biofuel
Zawya
3 days ago
- Business
- Zawya
Wheat and corn higher, soybeans stuck near 3-week low
PARIS/SINGAPORE - Chicago wheat and corn edged higher on Friday as the cereal markets consolidated after losses this week linked to favourable U.S. and global harvest prospects. Soybeans ticked lower to hold near Thursday's three-week low, curbed by expectations of ample supplies along with uncertainty over biofuel demand as the U.S. government considers waivers for oil refiners. A firmer dollar kept grain prices in check as grain markets awaited an update on demand from weekly U.S. export sales figures later on Friday. The most-active wheat contract on the Chicago Board of Trade (CBOT) rose 0.7% to $5.37-3/4 a bushel by 1015 GMT. Corn added 0.5% to $4.49-1/4 a bushel to steady after a one-week low on Thursday. CBOT soybeans inched down 0.1% at $10.50-1/2 a bushel to consolidate above Thursday's low of $10.40. Agricultural consultancy Sovecon on Thursday raised its forecast for Russia's wheat exports for the 2025-2026 season by 1.1 million metric tons to 40.8 million tons, citing improved weather conditions for the harvest. India is likely to produce a record 117.5 million metric tons of wheat in the year ending June 2025, the farm ministry said, above its March forecast of 115.4 million tons. In the U.S., winter wheat conditions are at a five-year high despite an unexpected decline last week, while regular showers have helped most corn and soybean crops get off to a good start to their growing season. With expectations rising for Brazil's upcoming second corn crop, the corn market found little support in large export sales reported on Thursday by the U.S. Department of Agriculture. "Despite exceptional export sales reported by the USDA —amounting to 205,096 tons for the 2024/25 campaign — market support remains absent," Argus Media analysts said in a note. The soybean market was assessing a Reuters report that the White House is considering a plan to clear a record backlog of requests from small refineries for exemptions from U.S. biofuel laws. Prices at 1015 GMT Last Change Pct Move CBOT wheat 537.75 3.75 0.70 CBOT corn 449.25 2.25 0.50 CBOT soy 1050.50 -1.25 -0.12 Paris wheat 202.00 0.00 0.00 Paris maize 193.00 2.25 1.18 Paris rapeseed 474.50 2.00 0.42 WTI crude oil 61.35 0.41 0.67 Euro/dlr 1.13 0.00 -0.34 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton
Malay Mail
24-05-2025
- Business
- Malay Mail
Sarawak eyes biofuel revenue from palm oil waste through legal reforms
KUCHING, May 24 — The Sarawak government is currently reviewing existing legal provisions in a bid to put palm oil waste to better use, with the aim of promoting downstream activities and increasing revenue for the state. Premier Datuk Patinggi Tan Sri Abang Johari Openg said he had directed Minister for Food Industry, Commodity and Regional Development Datuk Seri Dr Stephen Rundi Utom to discuss the matter with state Attorney-General Datuk Seri Saferi Ali. 'Datuk Seri Dr Stephen Rundi will discuss with the Sarawak Attorney-General regarding amendments to our laws so that we can manage palm oil waste, turning it into a new source of income for Sarawak. 'From this waste, we can produce green energy,' he said in a Sarawak Public Communication Unit (Ukas) report today. He made these remarks during a press conference after launching the Sarawak Land Consolidation and Rehabilitation Authority (Salcra) kernel crushing plant in Lubok Antu, Sri Aman. Abang Johari said this move will serve to strengthen Sarawak's role in the regional economy. At present, Sarawak has 85 palm oil processing mills, from which palm oil waste can be collected and sent to a central processing facility for biofuel production. According to him, these 85 mills can work together to ensure proper disposal and management of palm oil waste, facilitating the production of biofuel. 'In this way, we will be able to produce large-scale by-products such as biofuel which is the basis for producing sustainable aviation fuel (SAF). 'If this can be materialised, then Sarawak can become an SAF producer in the region, further boosting our revenue,' added Abang Johari. — The Borneo Post
BBC News
22-05-2025
- Business
- BBC News
Greenergy's Immingham biodiesel plant could be forced to close
One of the UK's last biodiesel plants could be forced to shut over financial pressures, according to the company that runs Bateson, chief operating officer at Greenergy, which runs the plant at Immingham Docks on the Humber Estuary, told 5Live's Wake Up To Money that the company was undertaking a strategic review of the site's future, but warned they needed support soon to keep the plant goes into diesel used in cars, public buses across the UK and lorries. In particular, it is used in busses to try to bring down the carbon emissions they produce."The market for manufacturing biodiesel across Europe is in a very poor state at the moment", Mr Bateson said. He added: "Margins are very poor, energy costs are high, staff costs are high and we are struggling to compete with this alternative renewable fuel HVO in the UK, which is coming in in a subsidised form from the US."According to Mr Bateson, when hydrotreated vegetable oil (HVO) is produced or blended in the US, the companies doing that work receive credits from the government, which he said stayed with the product when it comes to the UK, making it is an issue the Government here in the UK said it had been looking at, but time appears to be running Lincolnshire site is one of just four left across the UK, after Ardent Energy mothballed a similar facility near Motherwell last Bateson said: "I think it's incredibly important that the UK has its own biofuel and biodiesel industry, it brings jobs in the UK, these are skilled people."It brings resilience (in terms of supply) and it brings an alternative supply source. If we're totally reliant on one supply source then prices can hike."The Department for Business and Trade said in a statement: "We understand some of the challenges that the sector is facing and are working closely with them to understand their concerns. "Our independent Trade Remedies Authority is also investigating whether US HVO is sold in the UK unfairly and causing harm to UK producers, and ministers will decide if action is required once the investigation has concluded." Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Bloomberg
14-05-2025
- Business
- Bloomberg
Indonesia Hikes Palm Export Levy to Boost Biofuel, Replanting
Indonesia raised its export levy on crude palm oil from 7.5% to 10% starting May 17 in a widely expected move to fund a biofuel program and replanting efforts in the world's largest producer. The government also increased levies for outbound shipments of other palm oil products, according to a regulation issued by the finance ministry.
Washington Post
12-05-2025
- Business
- Washington Post
FutureFuel: Q1 Earnings Snapshot
ST LOUIS — ST LOUIS — FutureFuel Corp. (FF) on Monday reported a loss of $17.6 million in its first quarter. On a per-share basis, the St Louis-based company said it had a loss of 40 cents. The biofuel and specialty chemical maker posted revenue of $17.5 million in the period.
