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+<br>Company makes 3rd cut to renewables service outlook this year<br>
+<br>Reduces both margin and volume outlook<br>
+<br>[Weaker diesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) market hits [biofuel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) 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 Neste on Wednesday cut the margin outlook for its [biofuel](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) [business](https://www.crunchbase.com/organization/mission-newenergy) for the 3rd time this year due to falling prices and also decreased its anticipated sales volumes, sending the company's share cost down 10%.<br>
+<br>Neste stated a drop in the cost of [routine diesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) had actually affected what it can charge for the [biofuel](https://www.crunchbase.com/organization/mission-newenergy) 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 their plants to produce sustainable diesel has developed a supply excess of low-emissions biofuels, hammering revenue margins for [refiners](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) and threatening to hamper the nascent market.<br>
+<br>Neste in a  the expected typical similar [sales margin](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) of its [renewables](https://www.businessnews.com.au/Company/Mission-NewEnergy) unit to between $360-$480 per tonne of [biofuel](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048), down from $480-$580 per tonne seen in July and well below the $600-$800 seen in February.<br>
+<br>The company now also anticipates renewables-based sales volumes in 2024 to be about 3.9 million tonnes instead of the 4.4 million it had actually anticipated considering that the start of the year, it [included](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm).<br>
+<br>A part of the volume cut came from the [production](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) of [sustainable aviation](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) fuel, of which it is now anticipated to sell in between 350,000-550,000 tonnes this year, below between 500,000 and 700,000 tonnes seen previously, Neste stated.<br>
+<br>"Renewable items' prices have been adversely affected by a considerable reduction in (the) diesel rate during the 3rd quarter," Neste said in a statement.<br>
+<br>"At the same time, waste and residue feedstock rates have actually not decreased and eco-friendly item market cost premiums have remained weak," the business included.<br>
+<br>[Industry](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) executives and analysts have actually stated quickly [expanding Chinese](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) [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) producers are seeking brand-new outlets in Asia for their exports, while Shell and BP have revealed they are [pausing growth](https://forest500.org/rankings/companies/mission-newenergy-limited) strategies in Europe.<br>
+<br>While the cut in [Neste's guidance](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) on sales volumes of sustainable aviation fuel came as a surprise, the negative effect on [biodiesel margins](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) from a [lower diesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) rate was to be anticipated, Inderes expert Petri [Gostowski](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) said.<br>
+<br>Neste's share rate had actually reversed some losses by 1037 GMT but 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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