World Perspectives

RVOs: More for Biomass-Based Diesel, But Not Enough for Planned Expansion

Last week, EPA released the final required volume obligations (RVOs) for 2023 through 2025; below is a summary of the final volumes compared to the proposed volumes published by EPA in December 2022. In short, 2023 volumes were mostly bumped up while 2024 and 2025 were mostly trimmed – except for biomass-based diesel. The 2023 RVO for biomass-based diesel remained the same as the proposal but is up a little more than 2 percent above the 2022 RVO; the 2024 RVO is up 5 percent over the proposal and the 2025 is up more than 13 percent over the proposed RVO. However, the industry believes EPA undershot new capacity coming online which could have a ripple effect of further delaying new renewable diesel expansion.   

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From WPI Consulting

Infrastructure investment due diligence

On behalf of a Canadian oilseed processer WPI's team provided market analysis, econometric modeling and financial due diligence in support of a $24 million-dollar investment in a Ukrainian crush plant. Consistent with WPI's findings, local production to supply the plant and the facility's output have expanded exponentially since the investment. WPI has conducted parallel work on behalf of U.S., South American and European clients, both private and public, in the agri-food space.

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