08 March 2010 09:48 [Source: ICIS news]
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KUALA LUMPUR (ICIS news)--Asian glycerine prices may rise in the coming months due to tight supply, with regional producers having no more cargoes to sell in the first quarter, industry sources said on Monday.
Upcoming maintenance at some oleochemical plants in Malaysia was adding to the supply squeeze, they said, ahead of the the Palm & Lauric Oils Conference and Exhibition: Price Outlook 2010/2011 in Kuala Lumpur.
The conference will run from 9-10 March.
Refined glycerine prices were at $600-620/tonne (€438-453/tonne) FOB (free on board) SE (southeast) Asia on 3 March, crude glycerine were at $250-280/tonne CIF (cost, insurance and freight) China, according to global chemical market intelligence service ICIS pricing.
Scarce supply applies to both types of glycerine, market sources said, adding that some producers could be deliberately withholding supply to drive up prices.
South America, the largest supplier of glycerine in the world, had sold out cargoes for the first quarter and early second quarter, industry sources said.
($1 = €0.73)
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