02 May 2013 10:32 [Source: ICIS news]
LONDON (ICIS)--European spot kosher non-genetically modified (non-GMO) crude glycerine prices have increased, according to sources late on Wednesday.
Firmer prices of €280-300/tonne ($368-395/tonne) EXW (ex works) and €320-340/tonne FD (free delivered) NWE (northwest Europe) were quoted by sources, which attribute higher values to tighter supply and improved interest in kosher non-GMO crude glycerine from the animal feed sector.
However, other sources were unaware of any tightness in the market and said that players in the animal feed sector were wary of the European glycerine market because of its recent volatility.
While some expect crude glycerine availability to improve as a result of higher palm methyl ester (PME) production during the summer, others expect the summer to result in higher used cooking oil methyl ester (UCOME) production, meaning that the supply of by-product crude glycerine would be unlikely to improve.
($1 = €0.76)
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