Global commodity news and price reporting agency Argus has launched new price assessments for renewable diesel in Europe, the company announced on 8 September.

The new Argus prices for northwest Europe cover three different groups of feedstocks: food and feed crops; used cooking oil/palm oil mill effluent; and tallow.

These price assessments are published weekly in the Argus Biofuels report and real-time market pricing is available on the company’s price discovery platform, Argus Open Markets (AOM).

“We have worked with the industry to develop these new prices, which will help shed light on this increasingly important part of the transport fuel pool,” Argus Media chairman and chief executive Adrian Binks said.

Hydrotreated vegetable oil (HV0) was becoming increasingly popular as a renewable alternative to traditional petroleum, according to Argus, as countries sought to move away from fossil fuels.

HVO could be blended into the existing petroleum diesel pool and was an important part of meeting the requirements set by the EU Renewable Energy Directive legislation to increase the share of renewables in the transport fuel pool by 2030, the company said.

Headquartered in London with 25 offices in principal commodity trading and production centres globally, Argus produces price assessments and analysis of international energy and other commodity markets.