COLUMN-ETHANOL PRODUCERS SHOULD BEWARE OF RISING STOCKS: MAGUIRE
--Gavin Maguire is a Reuters market analyst. The views expressed are his own. To get his real-time views on the market, please join the Global Ags Forum. --
CHICAGO, March 10 (Reuters) - The recent slump in corn prices has helped U.S. ethanol producer margins rebound from their recent plunge into negative territory, and has prompted ethanol manufacturers to snap their recent five-week streak of declining production
However, sluggish off-take levels have led to a rise ethanol inventories to their highest level in eight months, and reveal a lingering threat to ethanol market fundamentals that may limit a further recovery in producer margins over the near term.
EU BIOETHANOL GROUP WEIGHS U.S. SUBSIDY LAWSUIT
BRUSSELS, March 15 (Reuters) - European bioethanol producers will decide by the end of March whether to file a legal complaint with the European Commission over U.S. subsidies, the EU's main bioethanol lobby said.
Producers such as Germany's CropEnergies and Spain's Abengoa are gathering data on tax credits granted by the U.S. government to U.S. firms that blend ethanol with gasoline. They say the tax break squeezes the margins of competing European producers when the resulting blend is exported to the EU.
SUN BIOFUELS EYES 2 MLN LITRES OF OIL IN MOZAMBIQUE
MAPUTO, 14 March (Reuters) - UK-based Sun Biofuels plans to produce 2 million liters of fuel from its jatropha plantations in Mozambique's central Manica province by 2018, an official said on Monday.
Business Development Director Harry Stourton said the company will increase its cultivation area of jatropha plants to 10,000 hectares from the 2,500 hectares it has so far.
GREEN FUELS TO GET BOOST FROM EU TAX REVAMP -DRAFT
BRUSSELS, March 14 (Reuters) - The greenest fuels would become cheaper under an planned overhaul of European fuel taxes that would also narrow the price gap between petrol and diesel.
The European Union's executive wants to overhaul Europe's 240 billion euro ($334.4 billion) annual taxation of energy, which varies widely between countries and often creates paradoxical incentives that encourage the biggest polluters.
BP EXPANDS IN BRAZILIAN BIOFUELS WITH $680 MLN BUY
SAO PAULO/LONDON, March 11 (Reuters) - Oil major BP has agreed to buy a Brazilian sugar and ethanol group for $680 million, expanding its presence in the country's biofuels industry in what it said was the largest deal to date for its alternative energy unit.
The deal accents big oil's diversification into Brazil's ethanol sector as economies rethink their dependence on fossil fuels, especially following the political unrest in the Middle East that has driven oil prices to the highest since 2008.
GASOLINE WITH HIGHER ETHANOL BLEND AVAILABLE IN US SOON
WASHINGTON, March 10 (Reuters) - Gasoline containing up to 15 percent ethanol should be available for the coming summer driving season as the government moves to finalize labeling and other issues for the new motor fuel.
The Environmental Protection Agency approved in January raising the amount of ethanol in gasoline to 15 percent for newer cars and trucks from 10 percent, a ruling welcomed by the industry and by farmers who supply the corn to make the fuel.
U.S. ETHANOL OUTPUT BOUNCES BACK FROM 5-WEEK SLIDE
KANSAS CITY, March 9 (Reuters) - U.S. ethanol production snapped a five-week decline, rising slightly in the past week as profit margins improved, ethanol experts said.
Production rose to 883,000 barrels per day (bpd) for the week ended March 4, up from 882,000 bpd the previous week, according to the U.S. Energy Information Administration (EIA).
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