HOUSTON (ICIS)--Brazil's 63rd biodiesel auction sold 964.8m litres (212m gal), the Brazilian Petroleum, Natural Gas and Biofuels Agency (ANP) said.
The biodiesel sold in this auction will supply product for November and December 2018 and fulfill the 10% blending rate mandated by the government, according to the agency.
Thirty-eight producers participated in the auction, offering a total volume of 1.03bn liters for sale, the ANP said.
All biodiesel produced in Brazil is consumed domestically, according to ANP.
Soybean oil makes up about 75% of the feedstock for biodiesel production in Brazil.
Biodiesel is an alternative fuel, produced from renewable resources. The most commonly used feedstocks are rapeseed, soy and palm oil.