18 March 2008 22:22 [Source: ICIS news]
The Chinese are likely refining the crude-glycerine imports and selling the refined material for much higher prices, exporters said.
Although the US needs crude glycerine domestically, the desired product is 80% anhydrous. Chinese buyers, however, have been readily taking 70% material, traders said.
Crude glycerine is a co-product of biodiesel, which has been squeezed by rising feedstock costs.
With commodity prices undergoing strong fluctuations alongside booming prices in crude petroleum oil, Asian biodiesel feedstock crude palm oil (CPO) values recently hit benchmark levels above Malaysian ringgit (M$) 3,600/tonne ($1,125/tonne), Asian sources said.
Crude glycerine is a co-product of biodiesel production, fatty acid production and several soap-making processes.
Suppliers of crude glycerine include Peter Cremer, Uniqema and Dial.($1 = $M3.20)
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