07 May 2008 10:39 [Source: ICIS news]
SHANGHAI (ICIS news)--East China producers have increased ethanol prices by yuan (CNY) 50-100/tonne ($7.15-14.31/tonne) to offset sagging profits amid high feedstock tapioca values, buyers and sellers said on Wednesday.
Ethanol prices were assessed at CNY5,200-5,550/tonne EXWH (ex-warehouse) E China (east ?xml:namespace>
“The higher feedstock costs squeezed our margins coupled with [higher] water, electricity costs,” a producer said.
Most local producers imported tapioca feedstock for ethanol production, with present prices about CNY1,660/tonne CFR (cost and freight) CMP (
Many producers in
Meanwhile, from 1 May to 30 June, the Ministry of Railways would prioritise the transport of grain from the country’s north to the south in a bid to stabilise the price of rice, producers said, adding this would hit the distribution of ethanol.
($1 = CNY6.99)
Vincent Qi contributed to this article
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