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Q4 2024
In the fourth quarter of 2024, biodiesel prices are expected to show continued stability in the market, with demand expected to increase accompanied by ample supply. This demand growth will likely have been driven by sustained interest in renewable energy and ongoing government incentives for sustainable fuels. Supply chain dynamics are expected to have improved further, supporting production capacities and ensuring a steady flow of feedstocks. Overall, the market will have been projected to remain balanced, fostering an environment conducive to healthy biodiesel demand and pricing.
Q3 2024
In the third quarter of 2024, biodiesel prices have averaged around USD 4,800 per metric ton in Brazil. Supply chain pressures have eased further, contributing to a healthier market environment. Compared to the second quarter, demand for biodiesel has increased by about 2%, reflecting a positive shift in interest in renewable energy. This growth in demand has allowed the market to achieve greater balance, supporting healthier biodiesel pricing and signaling optimism for the future of sustainable fuels.
Q2 2024
Supply dynamics had begun to improve as production issues had stabilized. Demand for biodiesel had shown signs of recovery, with a modest increase of about 1-2%, as market players had worked to balance production costs with evolving consumer preferences in the biodiesel sector. Moving into the second quarter of 2024, biodiesel prices had continued to fluctuate, declining slightly to approximately USD 1,317 per metric ton in the Netherlands.
Q1 2024
The market faced upward pressure due to tightening supply chains and increased raw material costs, particularly from palm oil. Demand experienced a slight decline of about 1.5%, driven by changing energy policies that encouraged a shift toward alternative fuels. Despite this, established markets in transportation and renewable energy had maintained relatively stable demand; however, overall pricing had been impacted by challenges in balancing production costs. In the first quarter of 2024, biodiesel prices in the US had averaged USD 2.77 per gallon.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Biodiesel is an environmentally-friendly alternative to traditional diesel, made from renewable resources such as vegetable oils, animal fats, and algae. Produced through transesterification, it results in fatty acid methyl esters (FAME), offering reduced greenhouse gas emissions compared to fossil fuels. Biodiesel is widely used in the transportation and energy sectors and is seen as a key solution to reducing dependence on petroleum. Major producers include companies like Neste, Renewable Energy Group (REG), and Eni, with leading biodiesel production countries such as the United States, Brazil, and Indonesia. As countries push for cleaner energy solutions, biodiesel production is increasing, with global efforts focused on scaling up sustainable feedstock sources.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Properties | Specification |
| Color | Brown to yellow |
| Physical State | Liquid |
| Odor | Mild oily or animal fat odor |
| Odor Threshold | Variable |
| pH | Variable |
| Vapor Pressure | Variable |
| Relative Vapor Density | Variable |
| Initial Boiling Point | >280°C (536°F) |
| Solubility | Negligible |
| Freezing Point | -1°C (30.2°F) – 20°C (68°F) |
| Melting Point | Variable |
| Specific Gravity | 0.87 – 0.89 @ 25°C (77°F) |
| Density | Variable |
| Kinematic Viscosity | 3.80 cSt – 5 cSt @ 40°C (104°F) |
| Coefficient of Therm. Expansion / °F | Variable |
| Evaporation Rate | Variable |
| Flashpoint | > 93 °C (> 199 °F) |
Applications
Biodiesel is primarily used as a renewable fuel for transportation and heating, often blended with petroleum diesel. It powers agricultural machinery, serves as a lubricant and cleaning agent, and acts as a feedstock for bioproducts like fatty acids and alcohols used in cosmetics and pharmaceuticals. Additionally, biodiesel helps reduce emissions in marine applications.
During this period, the El Niño weather pattern significantly impacted agricultural production, particularly for key feedstocks like soybean and palm oil used in biodiesel. Droughts and irregular weather patterns initially increased biodiesel demand due to supply concerns in 2019, but by 2020, demand had slightly declined as lower crop yields resulted in higher raw material costs, driving up prices.
The global pandemic disrupted supply chains across various industries, including biodiesel. Lockdowns and labor shortages hindered production and logistics, causing a notable decrease in biodiesel demand in 2020. As sectors adjusted to new realities, demand fluctuated inconsistently, with some segments like transportation showing resilience while others faced declines.
Changes in government policies and regulations concerning renewable energy significantly influenced biodiesel demand. In 2020, as the European Union’s push for stricter sustainability criteria took effect, demand for biodiesel slightly declined due to increased compliance costs. However, by 2023, as countries sought to meet renewable fuel mandates, demand rebounded, driving up competition for feedstocks and impacting prices positively.
Geopolitical tensions and trade disputes affected the availability and cost of feedstocks for biodiesel production. As restrictions on imports and exports led to heightened prices, demand for biodiesel experienced volatility, with producers struggling to secure necessary materials. This resulted in a decline in overall market stability during 2021, but a gradual recovery began in 2022.
As environmental concerns gained prominence, demand for sustainable fuels, including biodiesel, surged in 2023. This increase was driven by shifting consumer preferences and regulatory requirements, resulting in a stable upward trend in biodiesel demand as producers adapted to meet the market’s evolving expectations.
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PriceWatch is your trusted resource for tracking global biodiesel price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the biodiesel market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence biodiesel prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely biodiesel market data.
Track PriceWatch's biodiesel price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.
This research methodology ensures that Price-Watch delivers the most accurate, timely, and actionable biodiesel pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Biodiesel is an environmentally-friendly alternative to traditional diesel, made from renewable resources such as vegetable oils, animal fats, and algae. Produced through transesterification, it results in fatty acid methyl esters (FAME), offering reduced greenhouse gas emissions compared to fossil fuels. Biodiesel is widely used in the transportation and energy sectors and is seen as a key solution to reducing dependence on petroleum. Major producers include companies like Neste, Renewable Energy Group (REG), and Eni, with leading biodiesel production countries such as the United States, Brazil, and Indonesia. As countries push for cleaner energy solutions, biodiesel production is increasing, with global efforts focused on scaling up sustainable feedstock sources.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Properties | Specification |
| Color | Brown to yellow |
| Physical State | Liquid |
| Odor | Mild oily or animal fat odor |
| Odor Threshold | Variable |
| pH | Variable |
| Vapor Pressure | Variable |
| Relative Vapor Density | Variable |
| Initial Boiling Point | >280°C (536°F) |
| Solubility | Negligible |
| Freezing Point | -1°C (30.2°F) – 20°C (68°F) |
| Melting Point | Variable |
| Specific Gravity | 0.87 – 0.89 @ 25°C (77°F) |
| Density | Variable |
| Kinematic Viscosity | 3.80 cSt – 5 cSt @ 40°C (104°F) |
| Coefficient of Therm. Expansion / °F | Variable |
| Evaporation Rate | Variable |
| Flashpoint | > 93 °C (> 199 °F) |
Applications
Biodiesel is primarily used as a renewable fuel for transportation and heating, often blended with petroleum diesel. It powers agricultural machinery, serves as a lubricant and cleaning agent, and acts as a feedstock for bioproducts like fatty acids and alcohols used in cosmetics and pharmaceuticals. Additionally, biodiesel helps reduce emissions in marine applications.
The pricing of biodiesel is influenced by several key factors, including feedstock costs, production processes, and market demand. Feedstocks such as vegetable oils and animal fats account for a significant portion of production costs; thus, fluctuations in their prices directly impact biodiesel pricing. Additionally, regulatory incentives and mandates for renewable energy can drive demand, affecting market prices. Understanding these dynamics can help procurement heads make informed purchasing decisions.
Biodiesel pricing can vary based on market conditions but is often influenced by the prices of traditional fossil fuels. While biodiesel may have a higher production cost, its price can be competitive, especially when factoring in government incentives and the environmental benefits of reducing greenhouse gas emissions. For procurement heads, analyzing the total cost of ownership, including sustainability goals and potential long-term savings, is crucial when comparing biodiesel to fossil fuels.
Government policies significantly impact biodiesel pricing through subsidies, tax incentives, and renewable fuel standards. These policies can lower production costs and promote market demand, making biodiesel more competitive with fossil fuels. Procurement heads should stay informed about policy changes to anticipate pricing fluctuations and ensure compliance with regulations. By leveraging available incentives, organizations can optimize their procurement strategies for biodiesel.
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