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+<br>[Company](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) makes 3rd cut to renewables organization outlook this year<br>
+<br>[Reduces](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) both margin and volume outlook<br>
+<br>[Weaker diesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) market strikes [biofuel](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) rates<br>
+<br>(Adds analyst, background, detail in paragraphs 2-3, 9-11)<br>
+<br>By Elviira Luoma and Essi Lehto<br>
+<br>HELSINKI, Sept 11 (Reuters) - Finnish [refiner Neste](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) on Wednesday cut the margin outlook for its [biofuel](https://www.businessnews.com.au/Company/Mission-NewEnergy) service for the third time this year due to [falling costs](https://www.zoominfo.com/c/mission-newenergy/346542889) and also reduced its anticipated sales volumes, sending the business's share rate down 10%.<br>
+<br>Neste said a drop in the rate of routine diesel had actually impacted what it can charge for the [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) it makes in Europe and Singapore, while input costs for waste and residue feedstock remained high.<br>
+<br>A rush by U.S. fuel makers to [recalibrate](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) their plants to produce eco-friendly diesel has actually developed a supply glut of low-emissions biofuels, hammering revenue margins for refiners and threatening to hamper the nascent industry.<br>
+<br>Neste in a statement slashed the expected average similar sales margin of its renewables system to between $360-$480 per tonne of [biofuel](https://stocktwits.com/symbol/MNEL), down from $480-$580 per tonne seen in July and well below the $600-$800 seen in February.<br>
+<br>The company now also expects renewables-based sales volumes in 2024 to be about 3.9 million tonnes instead of the 4.4 million it had forecasted considering that the start of the year, it included.<br>
+<br>A part of the volume cut came from the production of [sustainable aviation](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) fuel, of which it is now [expected](https://www.google.com/search?kgmid=/m/0cqd_rb) to sell between 350,000-550,000 tonnes this year, below in between 500,000 and 700,000 tonnes seen formerly, Neste said.<br>
+<br>"Renewable items' prices have actually been adversely affected by a significant reduction in (the) diesel rate during the 3rd quarter," Neste stated in a declaration.<br>
+<br>"At the exact same time, waste and residue feedstock prices have actually not reduced and renewable product market cost premiums have remained weak," the company added.<br>
+<br>Industry executives and experts have [stated rapidly](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) expanding Chinese  producers are [seeking brand-new](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [outlets](https://pitchbook.com/profiles/company/51278-86) in Asia for their exports, while Shell and BP have actually announced they are [stopping](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) briefly growth strategies in Europe.<br>
+<br>While the cut in [Neste's guidance](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) on sales volumes of sustainable aviation fuel came as a surprise, the unfavorable effect on [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) margins from a lower diesel rate was to be expected, Inderes analyst Petri Gostowski said.<br>
+<br>[Neste's share](https://www.businessnews.com.au/Company/Mission-NewEnergy) 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 Luoma, Essi Lehto and Boleslaw Lasocki
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