10 January 2013 16:46 [Source: ICIS news]
HOUSTON (ICIS)--The annual contract prices for US liquid sorbitol for 2013 increased by an average of 6.7% from 2012 levels, sources said on Thursday.
Higher prices and lower available stocks of feedstock corn were the primary reasons that liquid sorbitol annual contract prices climbed 2.5 cents/lb ($55/tonne, €42/tonne), sources said.
The liquid form of sorbitol continues to comprise about 80% of the market.
Also contributing to the increase was the expectation by market sources that sorbitol demand would grow by 2%-3% in 2013.
Contract prices for crystal sorbitol, which represents about 20% of the market, increased an average of 3 cents/lb for 2013.
Spot prices for sorbitol are running 3 cents/lb above contract levels. However, with producers having contracted nearly all of their 2013 production, there is little sorbitol available for spot purchase, a source said.
US sorbitol producers include Archer Daniels Midland (ADM), Ingredion and Roquette America.
($1 = €0.77)
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