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Business

February 27, 2015

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ADM cuts biodiesel output

ADM cuts biodiesel output
Archer Daniels Midland , one of the world’s top biofuels producers, has slowed North American biodiesel output, the latest sign the industry is battling uncertainty over US renewable fuel policy while the oil rout curbs demand.
The Chicago-based agri business has “temporarily” shifted production at its Velva, North Dakota, oilseeds processing facility from biodiesel to other products and cut production at its other North American facilities, ADM spokeswoman Jackie Anderson said in an emailed statement. “We will continue to evaluate the market, and look forward to resuming production when conditions improve,” she said. With 140 million gallons of annual capacity at its wholly-owned Velva site and two joint ventures in Missouri, ADM is a sizeable player in the 2-billion gallon US industry.
It also runs a plant with 70 million gallons of capacity in Lloydminster, Canada. The ADM spokeswoman declined to give the timing and size of the cutbacks.
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