27 February 2013 23:59 [Source: ICIS news]
Market participants said overall market activity had been quiet as buyers held out for price decreases.
Prices for refined vegetable glycerine softened by €20/tonne ($26/tonne) on the bottom end and €10/tonne on the top to €680-730/tonne FD (free delivered) NWE (northwest Europe).
Sources said biodiesel capacity in the Netherlands and the Mediterranean had improved, increasing the crude glycerine supply. However, production in Germany remains flat.
Participants held mixed views on crude glycerine supply levels beyond March.
Producers said biodiesel capacity would continue to improve, with the traditional seasonal lift of summer production and imports of the feedstock palm oil being seen.
However, a trader said there is little product on offer from April-May onwards and much is hinging on whether the European Commission decides to impose duties on Argentinean and Indonesia biodiesel imports and at what level those duties will be.
Second-quarter negotiations are currently underway with talks focused on spot prices and uncertainties in the biodiesel market.
($1 = €0.77)
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