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Biodiesel

Q4 biodiesel rallies as Germany frets structural changes

Q4 has emerged as the best performing part of the biodiesel complex WoW, indicating the shift to winter buying structures as September specification switches loom. A rising back end of the curve has flattened the structure in RME markets as German refiners turn their attention to Q4 blends containing more rapeseed oil and less GHG-saving UCOME. Waste markets meanwhile are seeing a flurry of August demand, lifting UCOME in line with prompt VVO-biodiesel WoW while helping UCO prices move away from their sub-€700/t trough in late July.

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