19 June 2012 13:02 [Source: ICIS news]
SINGAPORE (ICIS)--Vietnam’s Dai Viet has reduced the production output at its 50,000 cubic metre/year ethanol plant in Dak Nong province to 60% of capacity because of poor demand, a company source said on Tuesday.
“We have decided to cut our operating rates because we do not want to build our inventory,” said the source.
“Demand is bad, so we do not want to run the risk of having too much stock,” the source added.
“Buyers are only asking about our prices, but they are not placing any firm bids because they want to check the market direction and are covered with enough material until the end of the third quarter of the year,” said the source.
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