SAN ANTONIO, Texas (ICIS)--US 80% crude glycerine (bio-crude) prices could move higher amid lower inventories, a market player said this weekend heading into International Petrochemical Conference (IPC).
"Inventories will probably be snug through April," the source said.
Currently, crude glycerine prices on a FOB (free on board) US Midwest basis are at 9.0-10.5 cents/lb ($198-231/tonne).
Crude glycerine is a 10:1 co-product of biodiesel production via transesterification.
Biodiesel is an alternative fuel, produced from renewable resources. The most commonly used feedstocks are rapeseed, soybean and palm oil.
Published ranges were said to be representative of the market for medium-sized buyers.
Hosted by the American Fuel & Petrochemical (AFPM), the IPC runs through 1 April in San Antonio.