Crude glycerin prices are holding steady to slightly lower in the week to Monday April 29, with improved biodiesel margins helping to keep the supply of glycerin strong.
Crude glycerin is a co-product of biodiesel production, and market supply rises when domestic biodiesel production pushes higher.
March domestic biodiesel production was 133.5 million gallons, 6% above February and 2% above March 2023, indicating a strong first quarter for domestic production. Biodiesel producers are enjoying strong margins, “if they have the ability to purchase spot soybean oil,” according to one trader.
Spot prices have been under pressure recently, providing additional incentive for production and leading to increased volumes of glycerin supply.
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