Brazilian President-elect Lula to revoke decision to keep B10 through March 31

In Brazil, Reuters reports President-elect Luiz Inacio Lula da Silva plans to revoke the decision to keep the biodiesel mandate at 10% through March 31, 2023 less than a day after the CNAE confirmed the lower mandate would stay in place. The blend is set to go to 15% on April 1, 2023. Blending should have already been at 14%, in line with a 1% per year increase over the past five years, but the mandate was cut more than a year ago to 10% due to then-soaring soy oil prices.