European ethanol prices have risen to €809 cu m - the highest level since 2007.
This has surpassed the previous record high of €769 cu m in September 2012, according to figures released by S&P Global.
This was due to supply shortages in the ARA region.
In March the price hit an all-time low of €350 cu m in March as the COVID-19 pandemic began to spread rapidly across the globe, but the price has since doubled in a space of five months.
With increased uptake for hand sanitiser left stocks drawn down and the increase in demand has outpaced that of supply.
Production margins for fuel ethanol have very attractive since June, according to the organisation, but margins are still better for industrial grade ethanol.
The next quarter will also see extra supplies arrive in the market from the new sugar beet crop.
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