19 June 2012 10:02 [Source: ICIS news]
SINGAPORE (ICIS)--Thai ethanol producer Ekarat Pattana Co (EPC) has decided to cancel its tender for 8,000cbm of anhydrous ethanol for delivery in August-September and redirect the product to the domestic market because of poor margins for exports, a company source said on Tuesday.
The first cargo was sold to a trader at around $650/cbm (€514/cbm) FOB (free on board) ?xml:namespace>
However, the producer has decided to cancel the tender for the remaining two cargoes totalling 8,000cbm as bids were deemed too low and therefore unworkable, according to the source.
The prices of anhydrous ethanol on a CFR Philippines basis were assessed at $675-695/cbm during the week ended 13 June, according to data from ICIS.
“We have decided to direct the remaining cargoes to the domestic market as we will earn better margins,” the source said.
The current domestic prices in
The producer is expected to begin negotiations for the remaining cargoes with oil companies in
($1 = €0.79)
($1 = Bt31.46)
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