MEDELLIN, Colombia (ICIS) --US 80% crude glycerine (bio-crude) prices were assessed lower as seasonal demand from the de-icing sector has disappeared, buyers said on Wednesday."It's simliar to going from 60 miles/hour to 10 miles/hour in about 30 feet," a buyer said when describing the sudden drop off in demand.
Crude glycerine prices on a FOB (free on board) US Midwest basis were at 9.0-10.5 cents/lb ($198-231/tonne), market players said. That represents a decline of 0.5-1.0 cents/lb.
Crude glycerine is a 10:1 co-product of biodiesel production via transesterification.
Published ranges were said to be representative of the market for medium-sized buyers.Biodiesel is an alternative fuel, produced from renewable resources. The most commonly used feedstocks are rapeseed, soybean and palm oil.