28 October 2013 19:59 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Glycerine exports out of the US surged more than fivefold in August year over year, according to data released by the US International Trade Commission (ITC) on Monday.
US exports increased to 4,409 tonnes from 729 tonnes in August 2012.
The harmonized tariff schedule (HTS) code includes glycerine, crude glycerine, glycerol waters and glycerol lyes, according to ITC.
The surge in exports is because crude glycerine pricing out of the US Gulf is the lowest on the globe right now, traders said.
Year-to-date data also showed a large increase year over year.
From January through August, 21,056 tonnes of product has been exported, as compared to 5,652 tonnes during the same time period in 2012.
The top destination for US glycerine exports was China, with Mexico following a distant second.
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