22 September 2011 20:22 [Source: ICIS news]
HOUSTON (ICIS)--US-based Archer Daniels Midland (ADM) plans to leave the USP-grade glycerine market in 2012, the company confirmed on Thursday.
ADM’s 100,000 tonne/year bio-based PG plant is in Decatur, Illinois.
The plant began start-up operations in late March 2011. It is now producing industrial-grade bio-based PG using refined glycerine as a feedstock.
September refined glycerine contract prices were assessed by ICIS at 38-46 cents/lb ($838-$1,014/tonne, €612-740/tonne) FOB (free on board) midwest for vegetable-based glycerine and 36-44 cents/lb for tallow-based.
USP-grade glycerine prices would typically fall towards the middle-to-high end of those ranges.
Petroleum-based USP-grade PG was last assessed at $1.13-1.18/lb for contracts based east of the Rocky Mountains.
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