In North America, the price of Ethanol surged due to production cuts and high demand from the domestic consumers as well as for exports. Ethanol prices skyrocketed during Q1 2021 as an effect of low feedstock corn availability.
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The overall price trend remained upwards as a repercussion of hiked prices of the key commodities throughout the quarter. Demand witnessed a hike later on with strong offtakes from the agrochemicals and fertilizers segment, whereas offtakes from the pharmaceuticals sector were stable. Seasonal surge in the Indian demand raised Magnesium Sulphate prices in March to USD 148 per tonne.
The European region encountered a steep rise in the prices of Sodium Nitrite during the first quarter of 2021, amid curtailed supplies due to the reduced imports from the USA. Shutdown of a key raw material facility in the Germany declared prompted shortages in the second half of the quarter followed by the transportation lag in the Antwerp-Rotterdam–Amsterdam route which further diminished the product inventories. Demand however surged as the offtakes were improved from the downstream segments during Q1.
Roman Zenon Dawidowicz As of mid-2015,164 countries around the world have adopted at least one type of renewable energy target, up almost four-fold from 43 countries in 2005. As gloomy as it may appear now with Gasoil below $600/mt, the biofuels story is far from dead as mandates are still increasing globally in Brazil, Argentina, Korea and perhaps Indonesia. Roman Dawidowicz mobile +65 9628 8735
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