You are here

Today's News

Senator Mitch McConnell pushing hard for hemp deregulation

Biofuels Digest - Tue, 04/03/2018 - 7:13pm

In Kentucky, the Associated Press reports that Senator Mitch McConnell will support hemp legalization legislation, removing the crop from the controlled substances list and introducing it as an agricultural commodity. The state is a leading hemp producer with more than 12,000 acres licensed to grow the crop and 57 processors producing a wide range of products. Prior to regulation, the state had been a major producer of the crop and promoters believe should it be deregulated, hemp could be bigger than tobacco for the state’s agricultural economy.

Categories: Today's News

ABLC Global 2018 announced – 180 speakers, 17 distinctive summits & forums on the global advanced bioeconomy

Biofuels Digest - Mon, 04/02/2018 - 9:32pm

In Florida, The Digest, the US Department of Energy Bioenergy Technologies Office and the International Energy Agency (IEA) Bioenergy announced that the Advanced Bioeconomy Leadership Conference on the Global Bioeconomy (ABLC Global) will be held November 6-9, 2018 at the Hotel Nikko in San Francisco, and outlined the agenda, themes and announced a first wave of event speakers.

3 Giant Conferences in 1 – 180+ speakers – A historic Partnership of Three Organizations – Unforgettable days of networking, and real dialogue on real opportunity

If you’ve attended the IEA Bioenergy Triennial Summit, the annual DOE Bioeconomy conference, or ABLC — you have three organizations and events in one. Dozens of international high-level delegations and the focus and energy of ABLC and its “Networking Like Crazy” focus on cooperation, collaboration, partnership, deal-making and trend-spotting.

In addition, ABLC Global will host Lab Tours of significant R&D centers in the San Francisco Bay Area, an Investment & Finance Summit on capital trends, and will feature tasting and hands-on technology demonstrations of advanced technologies, tools, beverages and foods.

17 Distinct Workshops, Forums and Summits

ABLC Global 2018 is 17 distinct conferences in 1 —the Biochemical Conversion Summit, the Thermal Conversion Summit, The Global Actions Forum, the Global Cooperation Forum, the Global Bioeconomy Forum, the Disruptive Technology Workshop, the Advanced Nutrition Summit, the Digital Biology Summit, the Advanced Agriculture Summit, the Financing & Investing Workshop, the Biogas Forum, the Innovative Conversion Technologies Forum, the Advanced Biofuels Summit, Sustainable Feedstocks Summit, the Biomass Mobilization & Sustainability Summit, the Advanced Organisms Forum, and the Open Innovation Summit.

















Boost your conference ROI — 2 for 1 offer

Through August 15th, we have a special “2 for 1” offer in place — you can 50% off the super-low Early Bird rate – so, prices start as low as $448 per person if you take the 2 for 1. It’s double savings and is the best way to boost you conference ROI. And, access our special room rates at the Hotel Nikko to maximize savings and for a seamless stay in San Francisco

The Digest State of the Industry: Market Price & Industrial Demand Outlook

Also featuring this year on the evening of November 8th is the Digest’s State of the Industry meeting, which will outline market sizes, growth trends and pricing ranges expected through 2022 for key product sets that will be under the microscope throughout the event.

6,000+ attending live or via live or on-demand streaming

500-600 high-level delegates are expected to convene in San Francisco for the event, and 6,000 are expected to tune in around the globe for live or on-demand coverage of selected events via BioChannel.TV.:

  • Getting to Scale: proven technologies that have been demonstrated in depth; the must knows and pitfalls from finance to engineering.
  • Gaining Speed: new strategies for increasing speed to market; development in parallel; accessing opportunities in emerging markets and making them work
  • Creating Advantaged Products — using the new toolkits of catalyst development, metabolic design, organism optimization, process simulation, open innovation, customer engagement and advanced fermentation to rapid create and scale new vehicles for bioconversion and new products & materials that feature higher rates, titers, yields and meet not only sustainability goals but bring new functionalities to the market.
  • Forming Capital for Scale: accessing strategic relationships; leveraging existing resources; new products and strategies that extend value for existing projects; what role carbon pricing plays, and how much and where and when.
  • Early Income: Designing platforms and breakthrough first products that reduce cash burn and create brand visibility; monetizing through new and existing channels.
  • Getting the right visibility: Developing a voice and messages that resonate with customers, consumers, policymakers, NGOs, investors, and analysts.
  • Affordable Feedstock: Identifying real resources, timelines to scale, aggregation that works, sustainability metrics, and residues vs novel energy crops.
8 Industry Segments & Subjects that Matter

Clean Fuels & Energy

In the Biochemical Conversion Summit, the Thermal Conversion Technologies Summit, the Disruptive Technology Workshop, the Biogas Forum, the Innovative Conversion Technologies Forum, and the Advanced Biofuels Summit, ABLC Global will be focusing on demonstrated cellulosic biofuels, expansion opportunities in biomass-based diesel, progress in aviation fuels; Low Carbon Fuel Standards and their impact, progress in emerging alternatives to gasoline and diesel including DME, butanol and more, upgrade and expansion technologies for first-gen plants and thermochemical technologies that are on the rise.

Renewable Chemicals and Biomaterials

the Biochemical Conversion Summit, the Thermal Conversion Technologies Summit, the Disruptive Technology Workshop, and the Innovative Conversion Technologies Forum, the event will focus on new demand for renewable chemical Intermediates, expansion in biobased plastics & packaging, the rise of fragrances & flavors, strategic interest and intent in organic acids and novel-performance chemicals.

Feedstocks & Supply chain development

In the Global Bioeconomy Forum, the Advanced Agriculture Summit, the Sustainable Feedstocks Summit, and the Biomass Mobilization & Sustainability Summit, the event will look at the development of a sustainable, available, reliable and affordable supply chain of feedstock based on biomass (including waste resources and new energy crops) to meet the conversion and product needs of the growing bioeconomy.

The New Nutrition

In the Advanced Nutrition Summit and the Advanced Feeds Summit, ABLC Global will focus in on the rise of protein production for animal and human nutrition, opportunities for vegan technologies, the growing interest in the microbiome and the implications for R&D, and the expanding universe of nutraceuticals.

The Digital Biology Toolkit

In the Advanced Organisms Forum, the Open Innovation Summit, the Global Disruptive Technology Workshop, and the Digital Biology Summit, ABLC Global will address the development of the new biological and manufacturing tools that support the rise of all these market segments — as well as the companions advances in robotics, genetics, big data and mobility that are ensuring that the nexus of biology and information science continues to power innovation across a wide selection of industries.

Agriculture

In The Advanced Agriculture Summit, ABLC Global will look at yield improvement, new crops, international deployment of technology, new sources of income — and the role of robotics, genetics, big data, remote sensing, mobility — and new tools for crop protection through early detection & spot treatment against pests, parasites, competitors and disease.

International Partnership

In the Global Actions Forum, the Global Cooperation Forum, the Global Bioeconomy Forum ABLC Global will look at opportunities to accelerate advanced technologies through robust international partnership, synchronized development and R&D consortia.

Finance

In the Financing & Investing Workshop, ABLC Global will brings together the latest case studies of successful financing, and introduce the players, the models, the geographies, and the steps to success from financing early-stage companies through to commercial-scale deployment.

Learn more

ABLC Global 2018’s website is now open with the events early agenda, committed speakers and sponsors and the complete program of activities for delegates . More about that at biofuelsdigest.com/ablcglobal

Categories: Today's News

China boosts ethanol import tax to 45%

Biofuels Digest - Mon, 04/02/2018 - 5:22pm

In China, Reuters reports that the additional 15% tax added on to ethanol on Sunday, bringing the total import tariff to 45%, as part of retaliation for the US increasing import tariffs on steel will have immediate impacts on ethanol imports but analysts expect the country to have to return to foreign ethanol consumption at some point in the near future in order to achieve its blending mandate. Although domestic production is ramping up, meaning less foreign competition will be good for crush margins, even with additional capacity online it won’t be enough to achieve 10% in 2020.

Categories: Today's News

Government of Ontario grants more than C$1 million to CHAR Technologies for biocoal project

Biofuels Digest - Mon, 04/02/2018 - 5:22pm

In Canada, CHAR Technologies Ltd. announced it has been approved for a grant totaling C$1,062,385 provided by the Government of Ontario through the Low Carbon Innovation Fund (“LCIF”).  The grant is in support of CHAR’s CleanFyre biocoal project, with participation from ArcelorMittal Dofasco, Canada’s largest flat roll steel producer and a lead user of CleanFyre within the project, Walker Environmental as a feedstock supplier and BioLine Corporation as a feedstock pre-processor.

“This grant will allow CHAR to work with innovative and progressive companies, including Dofasco, Walker and Bioline, to further develop CleanFyre, a carbon neutral, sustainable, solid biofuel, that meets the strict requirements of the steelmaking industry,” said Andrew White, CEO of CHAR.  “The project will culminate with a 20-tonne trial in an operational blast furnace at Dofasco to prove CleanFyre’s applicability within the steel industry.”

CleanFyre is a carbon neutral solid biofuel, and through its implementation will allow users to significantly reduce their GHG emissions.  Project funding will be disbursed 50% in April, followed by four additional payments on successful milestone completion.

Categories: Today's News

Red Trail Energy ethanol plant leaks 202 barrels after leaving pipe open accidentally

Biofuels Digest - Mon, 04/02/2018 - 5:21pm

In North Dakota, Agweek reports that Red Trail Energy’s ethanol plant in Richardson leaked 8,484 gallons of ethanol, about 202 barrels, due to a transfer valve on a hose being left partially open by accident. The leak, identified Thursday and likely to have started Wednesday, did not likely cause any environmental damage due to its location on the site and being caught quickly.  The state’s health department was monitoring the leak on site just in case.

Categories: Today's News

Highwater Ethanol seeking permission to expand production to 70.2 MGY

Biofuels Digest - Mon, 04/02/2018 - 5:19pm

In Minnesota, Highwater Ethanol is seeking environmental and pollution permission to expand production to 70.2 million gallons from the current 59.5 million gallons, requiring an extra 2 million bushels of corn annually sourced from within an 25-mile radius. Permission from the Environmental Protection Agency and the state’s pollution control agency are expected by summer or early fall. No additional capital investments will be required for the expansion other than improving the efficiency of existing processes to allow higher throughput.

Categories: Today's News

European T2 ethanol falls to 18-month low on high stocks and seasonal imports

Biofuels Digest - Mon, 04/02/2018 - 5:19pm

In the Netherlands, ICIS reports that FOB Rotterdam EU T2 ethanol prices have fallen to $522 per cubic meter, the lowest since September 2016, pushing crush margins into negative territory for European producers. With the European Union capping conventional ethanol at 7% through 2020 and likely further through 2030, traders see the European market in long term crisis that weighs further on prices. High storage and production volumes will likely pressure prices well into Q3. Platts reports that imports from Central America are not uncommon during this period, while stocks were boosted from a result of a bumper sugarbeet campaign.

Categories: Today's News

Eco Energy aims to supply B10 to 10% of Indian diesel market

Biofuels Digest - Mon, 04/02/2018 - 5:18pm

In India, local press reports that Eco Energy is aiming to supply 10% of the national diesel market with its Indizel, a B10 blend, or roughly 8.5 million metric tons of annual demand. With six new filling stations recently brought online and plans for another 50 in Telangana by the end of the fiscal year, the company is aiming for 150 in Telangana and Andhra Pradesh along with a total of 500 nationwide. The company hopes to begin manufacturing its own biodiesel by 2022 but currently imports from Singapore.

Categories: Today's News

Researchers use light to boost biofuel production from yeast

Biofuels Digest - Mon, 04/02/2018 - 5:17pm

In New Jersey, researchers at the Andlinger Center for Energy and the Environment use light to enhance the production of biofuels, drugs and commercial chemicals in bioreactors, which contain microorganisms such as yeast that have been metabolically engineered to make biological products. The team uses a technology called optogenetics—involving light to control cellular processes—to turn yeast genes on and off at specific times to optimize the production of the desired chemical or product.

Light played a key role in the experiment because it allowed the researchers to switch on genes that they had added to the yeast cells. These particular genes are sensitive to light, which can trigger or suppress their activity. In one case, turning on and off a blue light caused the special yeast to alternate between producing ethanol, a product of normal fermentation, and isobutanol, a chemical that normally would kill yeast at sufficiently high concentration.

The achievement of producing these chemicals was significant, but the researchers were intrigued by the development of light’s broader role in metabolic research.

Categories: Today's News

Indonesian corruption commission wants 90% of palm oil levy to go to farmers

Biofuels Digest - Mon, 04/02/2018 - 5:15pm

In Indonesia, a UCA news agency reports that the Prevention Bureau of the Corruption Eradication Commission wants 90% of the $2.1 billion in revenues generated from a levy on palm oil exports to go towards improving the livelihoods of smallholder oil palm farmers rather than subsidizing oil companies like Pertamina for blending biodiesel. The Commission is calling for transparency in the levy fund’s management. Farmers say fertilizer and better seedlings could be purchased with the funds to improve yields.

Categories: Today's News

The Digest’s Top 10 Innovations for the week of April 4th, 2018

Biofuels Digest - Sun, 04/01/2018 - 4:26pm

The pace of invention and change is just too strong, we’ve realized, to highlight annual or even quarterly or monthly rankings and summaries of significant product and service advances. For now, we’re going to be tracking these on a weekly basis to keep pace with the changes.

Categories: Today's News

Is there a green premium?  New report from Germany says “Ja!”

Biofuels Digest - Thu, 03/29/2018 - 9:45pm

In Germany, almost 70% of industry experts are reporting GreenPremium prices for bio-based products, based on a survey on prices for bio-based products conducted by nova-Institute in partnership with the European project BIOFOREVER.

This study asks, Are there differences along the value chain? Differences between distinct applications and sectors? Does the feedstock question, first or second generation biomass, play a relevant role? What do market participants expect in terms of how long Green Premium prices for their products are going to last?

Complete resutls are contained in a paper which can be downloaded here.

The hard data

Almost 70% of industry experts report GreenPremium prices for bio-based products. Most of the participants (42%) considered the GreenPremium to range between 10-20%, while 22% indicated a price premium of 20-40%. 32% of the participants report no GreenPremium prices. About 4% of the respondents see a willingness to pay even more than 50%.

Time limits? Almost 60% of the respondents expect no time limit for a GreenPremium at all.  30% see a limitation to the next five years, 8% to the next ten years.

Changes in attitude? A comparison of results of the different surveys from 2013, 2016 and 2017 shows that overall, the response patterns have changed only little.

The drivers? The highest ranked factor determining the GreenPremium price is the “Higher bio-based share of the product“ (64%), followed by “Lower greenhouse gas emissions” (46%) and “Biodegradability” (46%).

A positive green image has been identified as the most important reason for GreenPremium prices being paid (41%). But there were also other relevant drivers found in the survey: Touch of innovation (23%), enhanced attention at media can be achieved using bio-based materials instead of standard materials (18%) and expectations for higher prices (18%).

The importance of “Sustainability certification of the biomass feedstock” (24%) is ranked differently throughout the application groups, for packaging the importance (36%) is higher than for consumer goods (11%). “2nd generation biomass” and “GMO-free biomass” are the lowest ranked factors. GMO-free biomass is named only by 20% of the participants as important value-adding factor. An exception seems to be packaging, where GMO-free biomass (41%) reaches the same level of importance as “Biodegradability” and “Lower greenhouse gas emissions”.

The respondents. The 50 participants of the survey were identified by nova institut as “as true insiders who either produce or trade bio-based products (or intermediates) themselves or consult for related companies, with have in-depth market knowledge,

Learn more.  The study will be presented by Michael Carus, Managing Director of nova-Institute, at the 11th International Conference on Bio-based Materials 15-16 May in Cologne, Germany (www.bio-based-conference.com).

The BIOFOREVER backstory

The main objective of BIOFOREVER (BIO-based products from FORestry via Economically Viable European Routes) is the technical and economical demonstration of five different value chains from feedstock to final product. The BIOFOREVER project has received funding from the Bio-Based Industries Joint Undertaking (BBI-JU) under the European Union’s Horizon 2020 research and innovation programme under grant agreement No. 720710.

The Bottom Line

Several years of market analysis and manifold contacts to bio-based producers have shown that bio-based products achieve GreenPremium prices in many applications. Also the vigorous activities by big players to establish the “biomass balance approach” on the market clearly show that there is a relevant number of customers who are willing to pay a GreenPremium price for a bio-based material and product.

The Visual Results

Categories: Today's News

Next steps for succinic: The Digest’s 2018 Multi-Slide Guide to BioAmber

Biofuels Digest - Thu, 03/29/2018 - 8:48pm

BioAmber’s Mission? To be a fast growing producer of chemical intermediates that uses sugars instead of fossil fuels and sells competitively priced, sustainable chemicals with strong profit margins and the cleanest environmental footprint in the industry.

CEO Rick Eno gave this illuminating overview of the company’s progress and promise at ABLC 2018 in Washington DC.

Categories: Today's News

What’s Next in cellulosic biofuels and biogas?: The Digest’s 2018 Multi-Slide Guide to Iogen

Biofuels Digest - Thu, 03/29/2018 - 8:44pm

Iogen says it has “one of the world’s largest and most experienced teams in developing, designing, de-bugging, scaling-up and deploying cellulosic biofuel technology. We’re using innovative thinking and disciplined engineering to transform cellulosic biofuels into real, reliable and cost-effective fuels for today’s cars and trucks.” Also, the company has become a leader in the aggregation and sale of renewable natural gas.

The first commercial cellulosic ethanol facility based on Iogen technology was built in Brazil by Raizen, a $30 billion Brazilian energy company, and started its commissioning process in late 2014 after completion of construction.

Iogen CEO Brian Foody gave this illuminating overview of what’s next in cellulosic biofuels and biogas in this presentation deck from ABLC 2018 in Washington DC.

Categories: Today's News

Carinata Rising: The Digest’s 2018 Multi-Slide Guide to Agrisoma

Biofuels Digest - Thu, 03/29/2018 - 8:40pm

The production of Agrisoma’s Resonance Carinata is being expanded to multiple locations globally to provide a supply of sustainable, non-food oils for meeting the demand for sustainable biofuels. Resonance Carinata is certified sustainable by the Roundtable on Sustainable Biomaterials (RSB), the global standard and certification scheme for sustainable biofuels. It is one of only four crops in the world to achieve that status.

Resonance Carinata meal has recently received regulatory approval as an animal feed, further underscoring the value of this crop to meet the increasing demand for renewable fuel and providing meal for the production of livestock. Additionally, Resonance Carinata is grown on semi-arid farmland, creating new economic and production opportunities for growers.

CEO Steve Fabijanski gave this illuminating overview of the company’s promise and progress at ABLC 2018 in Washington DC.

Categories: Today's News

BIO rips US Justice Department’s proposed PES bailout: “Refiner sold credits to undermine RFS”

Biofuels Digest - Thu, 03/29/2018 - 8:15pm

In Washington, the Biotechnology Innovation Organization submitted comments to the U.S. Department of Justice on the proposed Consent Decree and Environmental Settlement Agreement with the United States Bankruptcy Court for the District of Delaware in the case of Philadelphia Energy Solutions Refining and Marketing LLC and PES Holdings LLC.

Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, states, “Philadelphia Energy Solutions’ claim to the bankruptcy court that the Renewable Fuel Standard program caused its financial difficulties is specious at best. The record shows that the refiner ignored its RFS compliance obligations and sold renewable fuel credits for profit, in order to pay unearned dividends to its Wall Street shareholders. This proposed settlement agreement undermines the goals of the RFS by allowing the refiner to profit by escaping its obligations under the law.

“Under the proposed settlement agreement, Philadelphia Energy Solutions is escaping 329 million gallons of its 2016 and 2017 renewable fuel obligations along with its entire obligation for the first three-and-a-half months of 2018. Moreover, the refiner is being allowed to keep for future use 64.6 million renewable fuel credits that should be turned in. PES cynically claimed to the bankruptcy court that other refiners and fuel blenders were reaping windfall profits from selling renewable fuel credits to them. The record now shows that PES is reaping a windfall by breaking the rules.

“The RFS has been a success in opening the U.S. transportation fuel market to innovation and competition. Biofuel producers have made long-term investments to develop advanced and cellulosic biofuels, build infrastructure, and create new jobs and economic opportunity. The proposed settlement agreement represents an unwarranted transfer of wealth to PES and its Wall Street shareholders at the expense of these biofuel producers and their investors.”

More on the story.

Categories: Today's News

Gevo says 30% cut in burn rate in focus for 2018 as 2017 $18M loss announced

Biofuels Digest - Thu, 03/29/2018 - 8:14pm

In Colorado, Gevo announced a cash EBITDA loss of $16.2 million for 2017, while noting that the cash burn for 2018 will be approximately 30% lower than in 2017, the company projects. During 2017 Gevo produced 15.6 million gallons of ethanol, 47 thousand tons of animal feed, and 1,050 tons of corn oil resulting in a revenue of $26.3 million. Consistent with Gevo’s market development efforts, during 2017, Gevo produced approximately 206,000 gallons of isobutanol at its production facility in Luverne, Minnesota.  During 2017, Gevo sold the equivalent of approximately 49,368 gallons of isobutanol, either directly as isobutanol or as renewable hydrocarbons (jet fuel, isooctane and isooctene) resulting in revenue of $1.1 million.

During 2017, through a combination of refinancing, pay-down, and exchange transactions, Gevo was able to eliminate and restructure its debt so that there was no outstanding debt due until at least 2020.  At December 31, 2017, Gevo had $16.7 million of senior secured debt that is set to mature in 2020.

In 2018, Gevo intends to continue to develop the markets for its isobutanol, jet fuel, isooctane, and other products made from isobutanol and ethanol.  Ultimately, Gevo’s primary target is to enter into binding supply contracts for isobutanol and related hydrocarbon products that represent the majority of the production volumes to be produced at the expanded Luverne Facility that Gevo plans to construct.

More on the story.

Categories: Today's News

US ethanol production dips to 15.99 billion gallon rate

Biofuels Digest - Thu, 03/29/2018 - 8:13pm

In Washington, according to EIA data as analyzed by the Renewable Fuels Association, ethanol production averaged 1.039 million barrels per day (b/d)—or 43.64 million gallons daily. That is down 10,000 b/d from the week before. The four-week average for ethanol production decreased slightly to 1.043 million b/d for an annualized rate of 15.99 billion gallons. Stocks of ethanol were 22.8 million barrels. That is a sizeable 4.2% decrease from last week and the largest weekly draw since mid-August 2014.

Average weekly gasoline demand softened by 1.2% to 386.7 million gallons (9.208 million barrels) daily. This is equivalent to 141.16 billion gallons annualized. Refiner/blender input of ethanol slipped 1.7% to 900,000 b/d, equivalent to 13.80 billion gallons annualized. The ethanol content in gasoline supplied to the market averaged 9.77%, down marginally from 9.82% the previous week.

More on the story.

Categories: Today's News

Green Biologics, Kingsford Charcoal partner to launch Ecolight natural charcoal lighter fluid

Biofuels Digest - Thu, 03/29/2018 - 8:12pm

In Minnesota, Green Biologics has agreed to supply their patented GreenFlame bio-based charcoal lighter fluid formulation exclusively to Kingsford Charcoal, to be marketed under a new brand: EcoLight. The licensing agreement builds on the successful 2017 introduction of GreenFlame, a natural USDA BioPreferred certified, clean-burning charcoal lighter fluid based on Green Biologics’ proprietary advanced fermentation process.

Kingsford EcoLight Powered by GreenFlame® charcoal lighter fluid will be available at retailers across the country starting later this month, with intentions for continued expansion throughout 2018 and beyond.

“As the leading charcoal brand and wholly owned subsidiary of The Clorox Company, a champion for sustainability, we found Kingsford to be an excellent partner for the GreenFlame charcoal lighter fluid formulation,” said David Anderson, global vice president of marketing, Green Biologics. “Their strong branding, extensive retail presence, and distribution capabilities will quickly introduce a large number of consumers to a high-performance, bio-based alternative to petro-based charcoal lighter fluid. We see this as a critical first
step toward an exciting future of renewable product collaborations.”

“Working with Green Biologics to introduce this product was a logical addition to our existing line,
showcasing Kingsford’s commitment to launching products consistent with evolving consumer trends,” said
Lauren Kahn, director of marketing at Kingsford. “The key to EcoLight’s success lies in its superior
performance. Unlike other natural charcoal lighter fluids on the market, there are no trade-offs in
performance here. EcoLight lights quickly, stays lit and works every time.”

More on the story.

Categories: Today's News

Rapeseed meal price jumps: report

Biofuels Digest - Thu, 03/29/2018 - 8:10pm

In Germany, UFOP reports that brisk demand for rapeseed meal drove prices to a three-year high. This reduced the price advantage compared to GMO-free soybean meal in compound feeds. German wholesale prices for rapeseed meal rose substantially over the past few weeks. Asking prices have surged by around 21 per cent since the beginning of February 2018, recently hovering around EUR 247 per tonne ex works. This was the highest level in almost three years.

The mid February to mid March 30-day average price for nearby rapeseed meal amounted to EUR 223 per tonne, which was up 10 per cent from the previous 30-day period. According to information published by Agrarmarkt Informations-Gesellschaft mbH (AMI), the price rise is due to an extreme scarcity of supply. Only four out of ten mills currently offer spot rapeseed meal to meet the considerable growth in demand from the compound feed industry.

In the reference period, the increase in asking prices for Brazilian GMO-free soybean meal containing 48 per cent crude protein was less sharp. At recently EUR 489 per tonne FOT (Free On Truck) Brake, buyers had to fork out only 5 per cent more than at the beginning of February. The price spread between one per cent of crude protein in rapeseed meal over one per cent of crude protein in GMO-free soybean meal recently even hit a low at EUR 2.92 per tonne.

The German Union zur Förderung von Oel- und Proteinpflanzen (UFOP) hopes that this trend in demand and prices will continue. In the light of growing vegetable oil surpluses, utilising feedstock locally to produce more GMO-free rapeseed meal is becoming more and more important for the level of producer prices of rapeseed.

More on the story.

Categories: Today's News

Pages

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer