Europe Q2 glycerine price increases by up to €90/tonne

01 April 2009 23:59  [Source: ICIS news]

LONDON (ICIS News)--European second-quarter refined vegetable and tallow glycerine contract settlements were finalised at up to €90/tonne ($120/tonne) higher than first-quarter prices due to tightness in raw materials, buyers and sellers said on Wednesday.

Prices were reported at €400-450/tonne FD (free delivered) NWE (northwest Europe) for tallow product, up €80/tonne.

Vegetable-grade material was settled at levels of €450-490/tonne FD NWE, sources said.

Prices were heard both above and below the ranges, but the majority of market participants confirmed the new ranges.

In the UK, second-quarter contract prices were moved up in line with northwest European contract levels, as tallow grade was at £370-420/tonne FD UK. This was up £105/tonne on the top end of the range, according to global chemical market intelligence service ICIS pricing.

Vegetable material was assessed at £420-455/tonne FD UK, up £105/tonne at the bottom end of the range.

The increases were attributed to tightness in crude glycerine due to lower biodiesel production, sources said.

Uses for glycerine include adhesives, paints and resins as well as toiletries, food emulsifiers and cosmetics.

($1 = €0.75/$1 = £0.70)

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By: Dan Horlock
44 20 8652 3214

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