Stronger European ethanol prices turn outlook around for CropEnergies and Suedzucker

In Germany, the recent revival in European ethanol prices has led CropEnergies and Suedzucker to reverse previous doomsday profits expectations and instead imply a 50% boost to operating profits, a move that boosted Suedzucker’s equities price 15% that added about $500 million to its stock valuation. Though the March to August half still showed a loss, the trend showed a significant move in the right direction. On Tuesday, Platts quoted European ethanol prices at for September delivery into Rotterdam at $548.48 per cubic meter.