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US mandates record-high biofuel use: Update
US mandates record-high biofuel use: Update
Updates throughout with details on announcement New York, 27 March (Argus) — The US will require record-high biofuel use over the next two years, boosting soybean farmers and alternative diesel producers at the expense of oil refiners that warned of higher pump prices. Oil refiners will have to bring billions more gallons of biodiesel and renewable diesel to market in 2026 and 2027, according to high-level targets previewed by President Donald Trump's administration. More details will come in final regulatory text that could be published late on Friday. The requirements come as Trump and Republicans in Congress see more support for biofuels as one way to help farmers hurt by trade wars and rising input costs. They also come at the same time as war in the Middle East has pushed up the cost of oil products, raising interest in alternatives like biofuels. Requiring "the highest volumes of renewable fuels in history" will create rural jobs and "massively increase our nation's energy supply", Trump said at a White House event. The Environmental Protection Agency (EPA) requires oil refiners and importers to annually blend different types of biofuels or buy Renewable Identification Number (RIN) credits from those that do. Traders expecting high quotas had already boosted the price of RINs — and key renewable diesel inputs like soybean oil — to multiyear highs this week. Friday's final rule includes a record-high mandate of 26.81bn RINs from total renewable fuel blending this year and 27.02bn RINs next year. EPA sets total blend requirements and requires that a portion come from lower-carbon "advanced" biofuel types including biomass-based diesel. A gallon of corn ethanol generates one RIN, while more energy-dense fuels like renewable diesel earn more. Other updates show the Trump administration siding clearly with farmers over refiners. Larger oil companies, for instance, will have to blend more biofuels to offset the demand hit from recently generous program exemptions for some small refining rivals. Spread over the next two years, the added mandate equals around 70pc of biofuel volumes expected to be exempted from 2023-2025 blend quotas, higher than other options EPA considered. The administration did punt an earlier plan to penalize imports, which would have been one of the most substantial and legally contested reforms in program history. But EPA expects to implement that provision — which would mean foreign biofuels and feedstocks receive half the RINs as domestic product — starting in 2028. Farm groups have pushed regulators to do more to restrict inputs that compete with US crops, including recycled cooking oil that major renewable diesel plants bring in from countries like China. Refiners had lobbied the administration this month to shift course, warning that higher mandates would spill into retail fuel prices already rising because of war in the Middle East. With affordability concerns top of mind for voters ahead of this year's midterm elections, the possibility of higher food and fuel prices presents political risk for Republicans. "It's baffling, with fuel prices already rising due to the conflict in Iran, that EPA is finalizing a rule that will make things far worse for consumers", said Chet Thompson, president of the American Fuel & Petrochemical Manufacturers, a group usually on board with Trump's energy policy. The mandates are certain to draw legal challenges, potentially from refiners or environmental groups. But as courts debate the details, the quotas are likely to support continued growth in not just US biofuel production but feedstock processing as well. Crop trading giants like Bunge and Cargill have invested heavily in new soybean and canola crush facilities, hoping to supply more vegetable oils to biofuel plants. Renewable diesel wins more than other fuels While the mandates will also support production margins for other biofuels, domestic demand for corn ethanol — the most widely used biofuel in the US — depends more on Congress. Lawmakers have struggled for months to reach a compromise on legislation that would permanently exempt a higher-ethanol gasoline blend from smog rules that currently limit summertime sales. Trump said Friday he was trusting legislative leaders to soon reach a deal. Gasoline stations can continue supplying fuel with up to 15pc ethanol this summer, more than the typical 10pc blend, because of temporary emergency regulations that the Trump administration started issuing this week. But so-called "E15" is still not sold at most US retail outlets. Renewable diesel production capacity in the US, already at record highs and growing, has boomed in part because the biofuel has fewer blend limits. By Cole Martin Final renewable volume obligations bn RINs 2025 2026 2027 Cellulosic biofuel 1.21 1.36 1.43 Biomass-based diesel 5.36* 9.07 9.20 Advanced biofuel 7.33 11.10 11.32 Total renewable fuel 22.33 26.81 27.02 *2025 biomass-based diesel mandate set in gallons, converted here to RINs Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US biofuel mandates exit White House review
US biofuel mandates exit White House review
New York, 27 March (Argus) — The White House has completed its review of new biofuel blend mandates, signaling it could release the long-awaited rule important for crop demand and retail fuel prices. The rule emerged from the White House review process on Thursday, which is the last significant step before major regulations can be released, according to a government database updated on Friday. President Donald Trump's administration has already made clear that it expects to finalize new biofuel quotas, which were proposed at record-high levels for 2026 and 2027, sometime this month. The final blend requirements come as Trump and Republicans in Congress see more support for biofuels as one way to help farmers hurt by trade wars and rising input costs. The new quotas also come at the same time as war in the Middle East has spiked the cost of oil products, raising interest in alternatives. More details about the updates to the biofuel program, whether released in full Friday or not, could come at a White House event to celebrate agriculture. Trump said earlier in the week that his administration would announce on Friday "a variety of actions that we're taking to support American farmers". Under the Renewable Fuel Standard, the Environmental Protection Agency requires oil refiners and importers to annually blend different types of biofuels or buy credits from those that do. Traders expecting high quotas have already boosted the price of program credits — and key renewable diesel inputs like soybean oil — to multiyear highs this week. But oil refiners have lobbied the administration to shift course, warning that higher mandates would spill into retail fuel prices that are already spiking. While an earlier Trump proposal to slash program credits for imported biofuels and feedstocks is unlikely to be finalized, oil majors have bristled at a separate plan that would require them to blend more biofuels to offset recently generous program exemptions for smaller rivals. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Argentina economy has sluggish start to 2026
Argentina economy has sluggish start to 2026
Montevideo, 26 March (Argus) — Argentina's economic activity expanded by an annual 1.9pc in January, according to the statistics agency, Indec. Growth slowed from the 3.3pc expansion reported in December following a 0.2pc contraction in November. Economic activity grew by an annual 1.3pc in January 2025. Growth in January 2026 was fueled by an annual 50.8pc increase in fisheries, a 25.1pc expansion in agriculture and 9.6pc growth in mining. Dragging down growth were manufacturing, off by 2.6pc, with retail falling by 3.2pc and utilities off by an annual 3pc. The government forecasts 5pc growth for 2026. The government is grappling with hyperinflation, which remains higher than forecast, and rising unemployment, which has increased. Export earnings were unexpectedly down in February, according to Indec Argentina's consumer price index (CPI) increased to an annual rate of 33.1pc in February, up from 32.4pc in January, Indec reported earlier this month. Still, it has slowed from 66.9pc in February 2025. Unemployment rose to 7.5pc at the end of fourth quarter of 2025, up from 6.6pc in the third quarter and compared with 6.4pc in the fourth quarter of 2024, according to Indec. The country's trade surplus narrowed to US$788mn in February, a nine-month low, from $2.2bn in January, according to Indec. -By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Australia urea topdressing at risk on US-Iran war
Australia urea topdressing at risk on US-Iran war
Sydney, 26 March (Argus) — Australian growers face higher fertilizer and fuel costs, which are affecting their planting decisions as they approach winter crop planting. The country's urea imports could also be affected, depending on the war in Iran, which could weigh on topdressing during the growing season. The dynamic could adversely affect yields and quality. The effective closure of the strait of Hormuz has cut off Australia from its main urea supplier, leaving some farmers exposed as they head into winter crop planting in April-June. Australia sources almost two-thirds of its annual urea imports from the Mideast Gulf (see graph). There is enough urea in Australia to cover the winter crop's pre-seeding application, but more imports are needed for topdressing applications starting in June, multiple suppliers said. Topdressing supports yields and quality in crops and typically occurs in June and July for wheat and barley and August for canola. Crop volumes and, importantly, protein levels in wheat, could be reduced if supplies are tight and high fertilizer prices cause farmers to pull back from their typical topdressing. Domestic and international urea prices have surged since the war began, driven by tight supply and higher freight rates. Argus last assessed granular urea at A$1,250-1,340/t ($872-934/t) fca Geelong on 19 March, a 55pc increase from before the war (see graph). Some trades were heard above A$1,400/t fca Geelong this week. Uncertainty about when — and if — urea supply will return to normal, along with higher expected fertilizer and fuel costs, are being factored into planting decisions. Barley plantings are likely to rise in place of wheat because of its lower fertilizer requirements and strong prices. Canola plantings could also be dictated by the balance of expected returns from higher oil markets against higher fertilizer and fuel costs. Some growers in Western Australia are receiving advice from agronomists and fellow farmers to grow more pulses, like broad beans and lentils, because these use less fertilizer than grains like canola and wheat. In northern crop regions, which are already dry, some acres could be left for fallow. The last vessel carrying fertilizer to Australia through the strait of Hormuz departed on 23 February and is expected in WA on 26 March, vessel tracking data from Kpler show. There will likely be no vessels arriving in Australia from the Mideast Gulf in April because vessels travelling from the region typically take at least three weeks to arrive. Furthermore, granular urea cannot be easily replaced with alternative nitrogen fertilizers like urea ammonium nitrate (UAN) and ammonium sulphate (amsul). Supplies of UAN, which is mainly used in WA, could be restricted because the main supplier, China, stopped exports as of 13 March. Meanwhile, amsul has around half the nitrogen of urea which increases handling and application costs. By Susannah Cornford and Edward Dunlop Australia urea imports (t) Granular urea fca Geelong (A$/t) Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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