In Arkansas, the joint venture between Tyson Foods and ConocoPhillips to produce biodiesel from beef tallow has increased capacity from an initial 1.5 Mgy to 7.6 Mgy.
Tyson Foods recently blamed ethanol for a drop in profits of 10 cents a share, or $23 million, in its first fiscal quarter, and the company said that uncertainty over grain prices made it impossible for the company to issue earnings guidance to analysts. Tyson said that its costs rose 3.9 percent in the first quarter compared to the same period last year, while sales increased 3.2 percent.
Tyson’s alternative fuel joint venture, Dynamic Fuels, which will convert Tyson byproducts into renewable synthetic jet fuel, is schedule to commence production in 2010 in Louisiana. is expected to be completed by 2010. The state of Louisiana recently pledged $400,000 towards construction of a rail spur serving the $150 million plant, a joint venture between Tyson Foods and Syntroleum.
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