Biodiesel Price, Demand & Supply | ChemAnalyst

  



In the North American market, Biodiesel prices experienced a significant decline in the third quarter of 2023, concluding in September. The decrease in prices was attributed to weak demand from the downstream transportation and industrial heating sectors, coupled with ample existing inventories in storage units that met the low demand without the need for fresh stocks. The subdued demand compelled suppliers to maintain their prices and engage in negotiations, offering discounts on bulk purchases. Simultaneously, the upstream palm oil sector also witnessed a downward price trend, contributing to a reduction in the production cost of the commodity. Buyers were advised to stay vigilant and closely monitor market conditions to ensure they secured sufficient supplies of Biodiesel. In response to the low domestic demand, producers lowered the production rate of the commodity, operating plants cautiously with the end users' demand in mind. Furthermore, trading activities were sluggish due to the presence of ample stocks in storage unit inventories.

The market recorded a Biodiesel price of USD 2524/MT (FD-Hamburg) in September 2023. However, during the initial half of the third quarter, Biodiesel prices in the German market notably surged. This increase can be ascribed to various factors, including a diminishing supply of palm oil, a vital feedstock for Biodiesel production. The reduced consumption of palm oil in the downstream heating oil and lubricants sector led to decreased inventory levels in the market, exerting pressure on producers to adjust their offer prices accordingly. In the latter part of the third quarter, the market price of Biodiesel experienced a slight decline. This drop was a consequence of decreased demand from the downstream transportation and industrial heating sectors, resulting in lower consumption of existing inventories and subsequently reducing trading activities among manufacturing units. Meanwhile, although the price trend in the upstream palm oil market was increasing, the Biodiesel price trend declined due to lesser demand and sufficient stocks.

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