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+<br>Company makes 3rd cut to [renewables service](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) outlook this year<br>
+<br>Reduces both margin and volume outlook<br>
+<br>Weaker diesel [market strikes](https://pitchbook.com/profiles/company/51278-86) [biofuel](https://www.businessnews.com.au/Company/Mission-NewEnergy) prices<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 on Wednesday cut the margin outlook for its [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) service for the third time this year due to  and likewise lowered its anticipated sales volumes, sending out the business's share price down 10%.<br>
+<br>Neste said a drop in the price of regular diesel had actually affected what it can charge for the [biofuel](https://www.zoominfo.com/c/mission-newenergy/346542889) it makes in Europe and Singapore, while [input costs](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) for waste and residue feedstock stayed high.<br>
+<br>A rush by U.S. fuel makers to [recalibrate](https://www.pinterest.com.au/missionnewenergy/) their plants to produce sustainable diesel has produced a supply glut of [low-emissions](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) biofuels, hammering profit margins for refiners and [threatening](https://www.zoominfo.com/c/mission-newenergy/346542889) to impede the [nascent industry](https://www.bloomberg.com/profile/company/MNELF:US).<br>
+<br>Neste in a statement slashed the anticipated typical equivalent sales margin of its renewables system to between $360-$480 per tonne of [biofuel](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html), down from $480-$580 per tonne seen in July and well listed below the $600-$800 seen in February.<br>
+<br>The business now likewise expects renewables-based sales volumes in 2024 to be about 3.9 million tonnes instead of the 4.4 million it had predicted since the start of the year, it added.<br>
+<br>A part of the volume cut originated from the [production](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) of [sustainable aviation](https://pitchbook.com/profiles/company/51278-86) fuel, of which it is now [expected](https://forest500.org/rankings/companies/mission-newenergy-limited) to offer in between 350,000-550,000 tonnes this year, down from between 500,000 and 700,000 tonnes seen formerly, Neste said.<br>
+<br>"Renewable products' prices have actually been adversely affected by a significant reduction in (the) diesel cost during the 3rd quarter," Neste said in a [statement](https://www.zoominfo.com/c/mission-newenergy/346542889).<br>
+<br>"At the exact same time, waste and residue feedstock costs have actually not reduced and sustainable item market price premiums have remained weak," the company included.<br>
+<br>Industry executives and experts have actually said quickly broadening Chinese [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producers are [seeking brand-new](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [outlets](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) in Asia for their exports, while Shell and BP have announced they are stopping briefly expansion strategies in Europe.<br>
+<br>While the cut in Neste's assistance on sales volumes of sustainable air travel fuel came as a surprise, the unfavorable effect on [biodiesel](https://www.zoominfo.com/c/mission-newenergy/346542889) margins from a [lower diesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) cost was to be expected, Inderes expert Petri Gostowski stated.<br>
+<br>Neste's share cost had [reversed](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) some losses by 1037 GMT however remained 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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