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 sluggi