# US renewable diesel capacity projected to hit 5.1 billion gallons per year by 2024

> The EIA forecasts US renewable diesel capacity will grow from 600 million gallons per year at end-2020 to 5.1 billion by 2024, citing projects such as Marathon's Martinez conversion and Phillips 66's Rodeo project. The growth allows domestic producers to displace imported renewable diesel from Neste.

- Date: 2021-07-22 · published 2021-07-22T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/45934-us-renewable-diesel-capacity-projected-to-hit-5-1-billion-gallons-per-year-by
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Expanding domestic renewable diesel output raises demand for vegetable oil feedstocks, supporting soybean oil prices and tightening availability of fats and oils used in feed.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-02-27 | [The US produced more than 1.8 billion gallons of biodiesel in 2020](https://feedsoft.ai/events/48732-the-us-produced-more-than-1-8-billion-gallons-of-biodiesel-in-2020.md) | +1.1% | +12.9% |
| SBO | 2022-11-16 | [Renewable diesel projected to turbo charge U.S. biofuel growth – AgriNews](https://feedsoft.ai/events/15355-renewable-diesel-projected-to-turbo-charge-u-s-biofuel-growth-agrinews.md) | -4.9% | -13.8% |
| SBO | 2021-07-29 | [U.S. renewable diesel capacity could increase due to announced and developing projects -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/45930-u-s-renewable-diesel-capacity-could-increase-due-to-announced-and-developing.md) | -2.4% | -8.3% |
| SBO | 2022-03-24 | [EIA projects U.S. renewable diesel supply to surpass biodiesel in AEO2022 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/15408-eia-projects-u-s-renewable-diesel-supply-to-surpass-biodiesel-in-aeo2022-u-s.md) | -3.0% | +263.0% |
| SBO | 2023-01-06 | [Renewable diesel supply expected to rise in 2023 - McKeany-Flavell](https://feedsoft.ai/events/15342-renewable-diesel-supply-expected-to-rise-in-2023-mckeany-flavell.md) | +1.5% | -4.4% |
| PALMOIL | 2024-11-26 | [Malaysia's 2024 biodiesel exports projected to hit five-year high amid stable production: USDA \| S&P Global](https://feedsoft.ai/events/15608-malaysia-s-2024-biodiesel-exports-projected-to-hit-five-year-high-amid-stable.md) | +1.7% | -2.5% |
| PALMOIL | 2021-07-29 | [U.S. renewable diesel capacity could increase due to announced and developing projects -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/45930-u-s-renewable-diesel-capacity-could-increase-due-to-announced-and-developing.md) | +2.6% | +5.8% |
| PALMOIL | 2022-04-15 | [EIA’s latest energy outlook forecasts US renewable diesel supply to…](https://feedsoft.ai/events/15403-eia-s-latest-energy-outlook-forecasts-us-renewable-diesel-supply-to.md) | +1.2% | -0.3% |

## Sources

- biobased-diesel.com: https://www.biobased-diesel.com/post/us-renewable-diesel-capacity-projected-to-hit-5-1-billion-gallons-per-year-by-2024

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.