or crushed , at soybean processing plants in the United States . The soybean crush yields about 80 % soybean meal and 20 % soybean oil , which may be further processed into various food and non-food products .
As total U . S . soybean oil supply grew
between MY 2010 – 2011 and MY 2017 – 2018 , from about 22.5 billion pounds to nearly 26.0 billion pounds , the share of total soybean oil consumed as a biodiesel feedstock doubled , from about 15 % to 30 %. Soybean oil and other vegetable oils may
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also be used as a feedstock for renewable diesel , a separate biofuel that is increasingly produced at stand-alone facilities and petroleum refineries .
Between MY 2010 – 2011 and MY 2017 – 2018 , domestic biodiesel production grew from 0.7 billion gallons to 1.8 billion gallons . The increase in production has largely been driven by the Renewable Fuel Standard ( RFS ), a program administered by the U . S . Environmental Protection Agency that mandates the blending of renewable fuels into the nation ’ s fuel supply . The RFS target for biomass-based diesel , which collectively refers to biodiesel and renewable diesel , grew from 1.15 billion gallons to 2.10 billion gallons between compliance years 2010 and 2018 .
Soybean crush margins — the difference between the value of raw soybeans and the value of soybean meal and soybean oil — were at near record-high levels around the time China imposed a 25 % tariff on U . S . soybeans ( effective July 6 , 2018 ). Periods of high crush margins are associated with higher profits for soybean processors and , therefore , tend to increase the total soybean oil supply . Elevated crush margins during 2018 corresponded with record-high monthly soybean oil inputs for biodiesel production .
Source : U . S . Energy Information Administration , based on Bloomberg Principal contributor : Steve Hanson
� U . S . BIOMASS-BASED DIESEL IMPORTS DOWN FOR SECOND YEAR IN A ROW
U . S . imports of biomass-based diesel , which include biodiesel and renewable diesel , totaled 22,000 barrels per day ( b / d ) in 2018 , down 42 % from 2017 , and 64 % lower than the all-time high set in 2016 . Although increasing Renewable Fuel Standard ( RFS ) targets have driven biomass-based diesel demand in recent years , imports have fallen sharply — largely because of U . S . Department of Commerce ( DOC ) import duties imposed on foreign biodiesel volumes sourced from Argentina and Indonesia , countries which made up 60 % of total U . S . imports of biomass-based diesel in 2016 .
12 JUNE 2019 | FUEL OIL NEWS | www . fueloilnews . com