US first-half glycerine imports up 53% yr-on-yr

12 August 2008 22:36  [Source: ICIS news]

HOUSTON (ICIS news)--Imports of refined glycerine in the first six months of 2008 were 56,770 tonnes, or 53% higher than the same period a year before, according to data released by the US International Trade Commission (ITC) on Tuesday.

Imports in June were 7,775 tonnes, 29% less than the 10,976 tonnes imported in May but up by 19% from the 6,282 tonnes imported in June 2007, the ITC said.

Malaysia was the biggest source of imported glycerine, shipping 28,009 tonnes to the US during the first half of 2008, up by 48% compared with the same period one year before, the ITC said. Imports from Germany were 13,200 tonnes during the first six months of the year, up by 55% from first-half 2007.

Decreased demand in Asia and an increase in production of co-product biodiesel in Europe has led foreign suppliers to increase glycerine shipments into the US, leading to softening prices.

Refined glycerine spot prices were assessed at $1,764-1,984/tonne (€1,182-1,329/tonne) DEL for vegetable-based material and $1,543-1,764/tonne (€1,034-1,182/tonne) DEL for tallow-based glycerine on Tuesday, compared with $1,874-2,094/tonne DEL and $1,543-1,764/tonne DEL, respectively, at the end of June, according to global chemical market intelligence service ICIS pricing.

($1 = €0.67)

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By: Ben Lefebvre
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