European crude glycerine prices softer despite tight conditions

08 August 2013 10:24  [Source: ICIS news]

LONDON (ICIS)--Spot European crude glycerine values have decreased this week, despite continuing tight conditions, sources said late on Wednesday.

Crude glycerine values are assessed lower by €20/tonne at €330-430/tonne ($440-573/tonne) FD (free delivered) NWE (northwest Europe).

Sources have said that kosher genetically modified (GMO) crude glycerine is available at prices of €330/tonne FD NWE, but that very tight supply of kosher non-GMO crude glycerine means its values are at €430/tonne FD NWE.

“I’m still offering crude glycerine at €450/tonne FD NWE – buyers can either pay it or leave it,” one producer said.

“€450/tonne FD NWE for non-GMO kosher crude glycerine is too high – the market may be tight but I am certainly not seeing that level. Levels are around €430/tonne FD NWE maximum,” another producer said.

“Prices are going down as supply is gradually balancing out,” a distributor said.

($1 = €0.75)

By: Sarah Trinder
+44 20 8652 3214

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