Abengoa says all OK at ethanol plants but European market doesn’t buy it

In Spain, despite Abengoa’s assurances that its ethanol plants are operating as normal, the market is concerned about the company’s ability to meet spot demand in addition to term contracts. This concern has helped to pushed up European ethanol prices beyond current two-year highs that have been sparked by a tight physicals market. Imports are expected in the new year while a few vessels have been chartered for December delivery, but it’s not enough to rein in the distressed market.