European biodiesel buyers waiting on the sidelines as premium triples gas oil

In the Netherlands, demand for biodiesel continues to fall as blenders wait for warmer weather to use double-counted used cooking oil-based biodiesel rather than the winter spec that was running at three times the gas oil prices last week, compared to just 1.7 times during the same period in 2015. Demand for UCOME should start picking up in Q2. Bids and offers for UCOME were heard at $160 and $180 per ton premium over RED FAME 0 for prompt delivery but those prices are likely to heat up when demand resumes.