Brazil mandate to remain at B10 through March but jump to B15 from April 1

In Brazil, Reuters reported the ministry of mines and energy confirmed biodiesel blending will increase to 15% starting on April 1, but it will remain at 10% until then. To achieve the higher mandate, soybean demand is estimated at 30 million metric tons for 2023. Any technological route for the biodiesel production in permitted in the blending, including Petrobras’ R5 which includes 5% vegetable oil co-processed with fossil 95% diesel. President-elect Lula had said he would reverse the 10% limit on biodiesel blending and restore it to the legislatively-mandated levels.