# Kovarik: It's time for a long-term extension of the biodiesel tax credit - Brownfield Ag News

> The National Biodiesel Board is asking Congress for a multi-year extension of the $1 per gallon biodiesel tax credit, which has been on and off since 2005. Biodiesel output has grown from 100 million gallons in 2005 to nearly 3 billion gallons today.

- Date: 2019-01-23 · published 2019-01-23T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/60971-kovarik-it-s-time-for-a-long-term-extension-of-the-biodiesel-tax-credit
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Uncertainty over the tax credit affects investment in biodiesel capacity and therefore soybean oil demand. A lasting extension would support soyoil prices, but no legislation has passed yet.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2018-10-01 | [Biodiesel proponents ask for extension of biodiesel tax credit](https://feedsoft.ai/events/62411-biodiesel-proponents-ask-for-extension-of-biodiesel-tax-credit.md) | +1.4% | -1.8% |
| SBO | 2020-03-09 | [The Biodiesel Tax Credit: What Does the New Extension Mean? - OPIS, A Dow Jones Company](https://feedsoft.ai/events/54003-the-biodiesel-tax-credit-what-does-the-new-extension-mean-opis-a-dow-jones.md) | -8.3% | -7.2% |
| SBO | 2017-05-05 | [NBB asks for higher biodiesel RVO - Brownfield Ag News](https://feedsoft.ai/events/70868-nbb-asks-for-higher-biodiesel-rvo-brownfield-ag-news.md) | -0.2% | -4.1% |
| SBO | 2018-07-02 | [EPA increases biodiesel volumes - Brownfield Ag News](https://feedsoft.ai/events/63928-epa-increases-biodiesel-volumes-brownfield-ag-news.md) | -1.3% | -2.8% |
| SBO | 2019-05-20 | [Testing could lead to higher biodiesel blends - Brownfield Ag News](https://feedsoft.ai/events/58975-testing-could-lead-to-higher-biodiesel-blends-brownfield-ag-news.md) | -0.8% | +3.4% |
| SOY | 2017-04-26 | [ASA Applauds Introduction of Biodiesel Tax Credit Reform, Extension Act - American Soybean Association](https://feedsoft.ai/events/71380-asa-applauds-introduction-of-biodiesel-tax-credit-reform-extension-act-american.md) | +0.4% | -0.7% |
| SOY | 2019-01-22 | [Soybean growers benefit from growing biodiesel industry - Brownfield Ag News](https://feedsoft.ai/events/60973-soybean-growers-benefit-from-growing-biodiesel-industry-brownfield-ag-news.md) | +0.7% | -1.7% |
| SOY | 2019-02-22 | [Tax credit urged for biodiesel](https://feedsoft.ai/events/60468-tax-credit-urged-for-biodiesel.md) | -1.5% | -0.1% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/kovarik-its-time-for-a-long-term-extension-of-the-biodiesel-tax-credit/

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