Brazil’s CNPE cuts biodiesel blending mandate to 10% again

In Brazil, Reuters reports the National Energy Policy Council (CNPE) has again cut the biodiesel blending rate to 10% from the current 13% ahead of the next ANP biodiesel auction. A return to high soy prices has led to the policy shift which has happened periodically throughout the year as prices spike and push biodiesel beyond what is deemed to be affordable prices. Biodiesel blending is meant to continue rising until reaching 15% in 2023.