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+<br>[Company](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) makes third cut to renewables organization outlook this year<br>
+<br>Reduces both margin and volume outlook<br>
+<br>[Weaker diesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) market strikes [biofuel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) costs<br>
+<br>(Adds expert, background, detail in paragraphs 2-3, 9-11)<br>
+<br>By Elviira Luoma and Essi Lehto<br>
+<br>HELSINKI, Sept 11 (Reuters) - Finnish [refiner](https://www.bloomberg.com/profile/company/MNELF:US) Neste on Wednesday cut the margin outlook for its [biofuel](https://www.pinterest.com.au/missionnewenergy/) [service](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) for the third time this year due to falling costs and likewise lowered its anticipated sales volumes, sending out the business's share rate down 10%.<br>
+<br>Neste said a drop in the price of routine diesel had actually impacted what it can charge for the [biofuel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) it makes in Europe and Singapore, while input expenses for waste and residue feedstock remained high.<br>
+<br>A rush by U.S. fuel makers to recalibrate their plants to produce eco-friendly diesel has actually produced a supply glut of low-emissions biofuels, [hammering revenue](https://www.pinterest.com.au/missionnewenergy/) [margins](https://www.bloomberg.com/profile/company/MNELF:US) for refiners and threatening to impede the nascent market.<br>
+<br>Neste in a declaration slashed the anticipated typical similar sales margin of its [renewables unit](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) to in between $360-$480 per tonne of [biofuel](https://stocktwits.com/symbol/MNEL), down from $480-$580 per tonne seen in July and well listed below the $600-$800 seen in February.<br>
+<br>The company now likewise expects renewables-based sales volumes in 2024 to be about 3.9 million tonnes rather of the 4.4 million it had predicted because the start of the year, it added.<br>
+<br>A part of the volume cut came from the [production](https://stocktwits.com/symbol/MNEL) of [sustainable air](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) travel fuel, of which it is now [expected](https://www.pinterest.com.au/missionnewenergy/) to sell in between 350,000-550,000 tonnes this year, below in between 500,000 and 700,000 tonnes seen previously, Neste said.<br>
+<br>"Renewable items' prices have actually been negatively affected by a substantial reduction in (the) diesel cost during the 3rd quarter," Neste stated in a declaration.<br>
+<br>"At the very same time, waste and residue feedstock rates have actually not reduced and renewable item market price premiums have remained weak," the company added.<br>
+<br>[Industry executives](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and experts have stated quickly broadening Chinese [biodiesel](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) producers are seeking brand-new outlets in Asia for their exports, while Shell and BP have actually announced they are  briefly [expansion strategies](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) in Europe.<br>
+<br>While the cut in Neste's assistance on sales volumes of [sustainable aviation](https://forest500.org/rankings/companies/mission-newenergy-limited) fuel came as a surprise, the unfavorable effect on [biodiesel](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) margins from a lower diesel cost was to be expected, Inderes analyst Petri Gostowski stated.<br>
+<br>Neste's share cost had reversed some losses by 1037 GMT however stayed down 5.8% on the day and 48% lower year-to-date. (Reporting by [Elviira](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) Luoma, Essi Lehto and Boleslaw Lasocki
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