04 January 2012 18:24 [Source: ICIS news]
HOUSTON (ICIS)--Annual contracts for 2012 between US liquid sorbitol sellers and buyers settled at a 12% increase from 2011, market sources confirmed on Wednesday.
Contracts concluded between most buyers and sellers saw prices rising about 4 cents/lb for liquid sorbitol, an increase of about 12% from 2011 levels. Contract prices for liquid material generally settled in a range of 37-41 cents/lb ($816-904/tonne, €628-696/tonne) DEL (delivered), sources said.
Higher priced crystal sorbitol contracts increased for 2012 to a range of 93-103 cents/lb DEL, an increase of about 5% from the 2011 range of 89-98 cents/lb.
The higher sorbitol prices were attributed to the higher price of feedstock corn and increased demand for sorbitol as a low-cost filler in a multitude of products. Approximately 60% of the 4 cent/lb increase for liquid sorbitol was attributable to the higher price of corn, while 40% of the increase resulted from higher market demand, sources said.
Stronger consumer spending in North America, as indicated by recent economic data, should keep the markets for sorbitol steady to higher in 2012, a source said.
US sorbitol producers include Archer Daniels Midland, Corn Products International and Roquette America.
($1 = €0.77)
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