Copyright 2014 Reed Business Information Limited. ICIS Pricing is a member of the Reed Elsevier plc group.

8th January 2014

Glycerine (US Gulf)

Editor Leela Landress, leela.landress@icis.com
CONTRACT PRICES
Click for Price History

Price Range

USD/MT

VEGETABLE FOB MIDWESTDEC

US CTS/LB

n/c

48.00-51.00

n/c

1058.22-1124.36

TALLOW FOB MIDWESTDEC

US CTS/LB

n/c

45.50-50.50

n/c

1003.10-1113.33

PHARMACEUTICAL GRADE FOB

MIDWESTDEC

US CTS/LB

n/c

71.00-77.00

n/c

1565.28-1697.56

SPOT PRICES
Price Range

le

Click for Price History

VEGETABLE FOB
MIDWEST

Four weeks ago

USD/MT

n/c

46.00-48.00

n/c

46.00-48.00

1014.13-1058.22

TALLOW FOB MIDWEST

US CTS/LB

n/c

42.00-46.00

n/c

42.00-46.00

925.94-1014.13

CRUDE FOB MIDWEST

US CTS/LB

n/c

8.50-10.00

n/c

8.50-10.00

187.39-220.46

mp

US CTS/LB

NOTE: for full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and
click on methodology.
Note: A non-USP glycerine contract price quote will possibly
be added to the US glycerine report. Please direct comments
to leela.landress@icis.com.
2014 first-quarter contracts
First-quarter 2014 negotiations have largely concluded and
price ranges have begun to emerge. Prices will be assessed
next week following additional market input.

There are some sellers below current ranges for Q1, but
numerous buyers and sellers said that the lower prices offered
were not representative of the bulk of the market.
Non-certified USP-grade, or tech grade, has been heard
hovering in the low 40s cents/lb range for the first quarter.

Sa

Amid jockeying for market share, especially in the kosher

vegetable-grade tier, some pricing has been heard falling
within published ranges. However, there are some outliers at
the lower end and the upper end of the range.
In the kosher-grade market, some producers had to scramble
to maintain market share amid attractively priced import
product, a seller said.
However, US buyers are looking closely at the risk of price
volatility later this year when sourcing their supply.

The market seems to be split when looking at refined glycerine

for next year with many expecting the market to tighten in
coming quarters as players question what will happen with the
global biodiesel sector and its supply of by-product crude
glycerine.

Spot

Many participants expect that US biodiesel production will shut

down considering stagnant renewable fuel volume blending
mandates in the US and the lack of the $1/gal tax credit in
2014.

No new spot transactions were heard this week.

Players in the biodiesel sector said this week that the market is
sluggish and pricing lower in the sector.

US 80% crude glycerine (bio-crude) prices were assessed

steady this week as published ranges were said to be
representative of the market for medium-sized buyers.

Tallow-based USP-grade refined glycerine for the first quarter

is being heard largely within current published ranges.

US 80% biodiesel crude glycerine (bio-crude)

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Glycerine (US Gulf)

Page 2 of 2
Large buyers, mostly in the animal feed sector, are paying
prices below the published range.

Bleachable fancy tallow (BFT) in the Chicago cash markets

was at 34 cents/lb on the 7 January close. Last year BFT
prices were at 39 cents/lb.

Feedstocks

Crude SBO in the Chicago cash markets settled at 35.31

cents/lb, also down from ranges seen last year where prices
were much higher at 46.92 cents/lb.

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Sa

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