Europe crude glycerine values fall on healthier supply

05 September 2013 11:31  [Source: ICIS news]

LONDON (ICIS)--European crude glycerine values decreased on the back of improved supply, according to sources late on Wednesday.

Spot crude glycerine prices dropped by €15-45/tonne to €275-385/tonne ($362-507/tonne) FD (free delivered) NWE (northwest Europe), with sources saying there was a wide price gap between kosher genetically modified (GMO) and kosher non-GMO crude glycerine.

“Crude supply is quite good at the moment – I’m being offered volumes,” one source said.

“Supply from Argentina is in full swing,” another source said.

Some sources said they expect further price decreases during the fourth quarter, as rapeseed methyl ester (RME) biodiesel tends to be produced more as it is suitable for use in colder climates.

Kosher non-GMO crude glycerine is a by-product of RME production.

($1 = €0.76)

By: Sarah Trinder
+44 20 8652 3214

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