Bioenergy

US Government Biofuels Payments Made

March 10, 2004 [SolarAccess.com] The USDA processed first quarter Commodity Credit Corporation (CCC) Bioenergy Program payments for fiscal year 2004 (FYO4) during the first week in March. The payments cover ethanol and biodiesel production from October 1, 2003 through December 31, 2003. Program requests for the first quarter totaled $37.968 million. With $38.5 million in funding available each quarter, no proration was necessary as had been the case in previous quarters. The remaining $0.5 million will be added to the funding available for the remainder of FY04. Approximately 123 million gallons of new ethanol production was reported during the first quarter of FY04. Approximately 123 million gallons of new ethanol production was reported during the quarter, garnering nearly $36 million in funding. Roughly 1.6 million gallons of biodiesel were eligible, receiving nearly $2 million in funding.