06 April 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--European glycerine contract prices have increased by €130-165/tonne ($186-236/tonne) for the second-quarter on the back of tight supply, sources said on Wednesday.
European vegetable glycerine increased by €145-165/tonne to €635-685/tonne FD (free delivered) NWE (north west Europe), while tallow glycerine was assessed up by €130-150/tonne to €590-630/tonne FD NWE.
Sources cited tight supply due to reduced biodiesel production and strong demand as reasons for the increases. Glycerine is a by-product of biodiesel.
Most producers said they had sold out of product for the quarter, with one producer saying it needed a notice period of four to six weeks for customer orders.
($1 = €0.70)
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