27 March 2013 17:49 [Source: ICIS news]
LONDON (ICIS)--European T2 fuel ethanol prices increased by €10-15/cubic metre ($13-19/cbm) despite weak market fundamentals, sources said on Wednesday.
European T2 fuel ethanol values were assessed higher at €615-625/cbm FOB (free on board) Rotterdam, even though demand is quiet and supply is thought to be healthy.
One source believes that firmer wheat prices are the main driver behind the price increases.
“There’s a lot of availability and gasoline demand is down, but ethanol is tracking the wheat price,” the source said.
($1 = €0.78)
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