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The National Biodiesel Board said the nearly two-year lapse of the biodiesel tax credit and flatlined RFS volumes are hurting the industry. Nine biodiesel plants have cut production or closed, with layoffs in several states, and more could follow.
The NBB urged Congress to restore the tax incentive.
Plant closures and reduced biodiesel output lower demand for soybean oil, which is a major feedstock. Continued uncertainty over the tax credit could keep soybean oil demand weaker than it would be otherwise.
biofuels-news.comBiofuels Int @biofuelsmagNov 13, 2019After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
