16 April 2008 16:49 [Source: ICIS news]
LONDON (ICIS news)--European biodiesel values have soared $150/tonne (€95/tonne) during the past two weeks on rising costs, buyers and sellers said on Wednesday, following a sharp slump in the wake of losses on the Chicago Board of Trade (CBOT).
Main grade FAME (fatty acid methyl ester) 0 led the the rebound with expectations that numbers would continue to firm.
Prices had fallen at least $50/tonne in late March, taking levels to the low $1,200s/tonne FOB (free on board) ?xml:namespace>
Sellers viewed the recent loss as a momentary blip and were confident that values would soon breach $1,400/tonne FOB Rdam.
($1 = €0.63)
Bookmark Simon Robinson's Big Biofuels Blog for some independent thinking on biofuels
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