European glycerin prices skyrocket as biodiesel production and imports slow

In the UK, ICIS reports that COVID-19 has significantly tightened the availability of glycerin and as a result prices have tripled to EUR670-900/metric ton, basis free delivered northwest Europe. With expectation that biodiesel production is going to continue to slow through Q2 due to the virus and the resulting drop in non-GMO glycerin supplies, the market will be further impacted by the slow arrival of glycerin from Asia and Latin America. Oleon is said to have declared force majeure on non-GMO glycerin but ICIS was not able to confirm.