Europe biodiesel premiums decrease on low demand

18 July 2013 16:55  [Source: ICIS news]

LONDON (ICIS)--European biodiesel premiums over ICE gasoil have decreased on the back of low demand and a weaker bean oil versus gasoil spread, a source said on Thursday.

According to ICIS data, premiums have decreased by $25-65/tonne (€19-49/tonne) from last week.

“Demand is low – most people have covered their needs with used cooking oil methyl ester [UCOME],” the source said.

UCOME counts double towards European blending quotas, meaning buyers can purchase less UCOME but still reach European targets.

“The bean oil versus gasoil spread has also dropped off a lot and is bringing prompt values down,” the source added.

($1 = €0.76)

By: Sarah Trinder
+44 20 8652 3214

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