First Quarter of 2023 in North America Ethanol Prices
North America
Overall market dynamics of Ethanol Prices in the North American market remained stable on account of a balanced production rate and available stockpile with end-use manufacturing units. USDA figures showed an increase in production rate and increased demand for the commodity in the biofuel production industry. Domestic and foreign demand for the product was mild, and the producer had an abundant stockpile to meet domestic demand. Towards the quarter end, the final price of Ethanol was determined by the tight supply of sugar in the US market, as well as the rising demand from the biofuel and food industries. Senators from the United States were attempting to increase the international market for its Ethanol gas blend. Towards the quarter end, Ethanol prices were observed at USD 755 per MT, FOB Texas.
Asia Pacific
The overall market dynamics of Ethanol in the Asia-Pacific market declined slightly on account of the fluctuating demand outlook for the product. The Chinese market restarted operations in the country and trading in the foreign market during the Lunar post holidays in the country. End-user manufacturers continued to confront workforce shortages and fewer product inquiries. Manufacturing firms’ recently signed orders remained constant while their inventories increased. Several enterprises had reopened at the same time, and supply was increasing. Prices were too high, restrictive downstream demand. Buyers showcased wait-and-watch behavior before placing larger orders towards the quarter’s end. Corn market volume in the production area remained strong, but port corn arrival volume increased. At the same time, downstream demand remained static, and buyers were hesitant to place orders. Towards the quarter end, Ethanol prices were observed at USD 895 per MT, Ex-Shanghai.
Europe
In the first quarter of 2023, the market Ethanol Prices followed the inclined trend In the European market. Because of the ease of the import, the German providers received the ethanol consignment from the United States with declined transit time. Biofuel continued to be in high demand in the local market throughout the quarter. The observed rise in energy prices raised production costs. Demand for the product from food services, as well as demand for Ethanol blended biofuel. To meet food industry demand and reduce reliance on imported oil, the European government intended to prohibit the use of vegetable oils in the production of biofuel. As a result, demand for the product from ethanol-based biofuel companies, as well as the pharmaceutical and food sectors, has increased, affecting final Ethanol prices on the European market. Towards the quarter end, Ethanol prices were observed at USD 1120 per MT, CFR Hamburg.
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