GlencoreXstrata says EU overcapacity continues to weigh on biodiesel

In Switzerland, GlencoreXstrata says the European Union’s overcapacity for biodiesel production continues to weigh on market prices, which partly led to the company’s lower output during the first half of the year. Its production fell by 3% on average in the EU and Argentina. The company did note that the situation seemed to be improving during the latter part of the reporting period.