LONDON (ICIS)--European biodiesel prices increased on higher premiums over ICE gasoil and firmer ICE gasoil figures, according to ICIS data on Thursday.
Prices for Renewable Energy Directive (RED) rapeseed methyl ester (RME) were assessed at $1,017-1,039/tonne FOB (free on board) NWE (northwest Europe), up by $32/tonne from the previous week.
Prices for fatty acid methyl ester (FAME) 0 RED were at $1,012-1,034/tonne FOB Rotterdam, up by $30-32/tonne from last week.
RME RED and FAME 0 RED premiums over ICE gasoil had firmed as a result of healthy demand, although most buying interest was focused on FAME 0 RED, according to sources.
The daily settlements of front-month ICE gasoil were in a range of $879.50-887.25/tonne the week ending Thursday 24 July, but this range had increased to $887.00-899.25/tonne this week, tracking crude oil values.