Current-year ethanol RINs production in August fell by 18.73 million RINs to 1.129 billion RINs, according to data released Tuesday through the US Environmental Protection Agency's Moderated Transaction System website.
With EPA setting the total 2013 ethanol production target at 13.8 billion gallons, year-to-date production was at 62.29% of the total mandate, two-thirds the way through the year. However, a shortfall is unlikely after the EPA announced on August 6 a four-month extension for obligated parties to meet 2013 blending requirements.
August biomass-based diesel (D4) RINs soared by 10.55 million RINs to 271.32 million RINs generated, and advanced biofuel (D5) RINs production jumped 30.75 million RINs to 97.34 million RINs generated.
Cellulosic biofuel (D3) RINs production returned to no reported production after seeing the first reported production since April 2012 in June and July.
The EPA issues RINs to track renewable fuel usage throughout the supply chain. Refiners, importers and blenders -- called obligated parties -- use them to show the EPA that they have fulfilled their mandated government use of renewable fuels. If the obligated party has not used enough physical product, it can buy RINs to satisfy the quota.
