31 October 2013 11:13 [Source: ICIS news]
LONDON (ICIS)--Buying interest from a major producer continues to hold European fuel ethanol prices steady, according to sources late on Wednesday.
European T2 fuel ethanol prices were assessed at €609-614/cbm ($834-841/cbm) FOB (free on board) Rotterdam, up by €9/cbm at the low end of the range and down by €3/cbm at the high end of the range compared with last week.
“It is mainly [one major producer] buying,” one source said.
“[The major producer] is the main buyer and support for these values,” another source said.
“They bought a lot in September, October and who knows what will happen in November.
"They’re not selling [byproduct] DDGS [dried distiller’s grains with solubles] so they can’t be producing. Usually DDGS has to be sold quickly as it goes into animal feed,” the source added.
The producer could not be reached for comment.
($1 = €0.73)
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