Green Plains biofuels increased turnover
Ethanol producer Green Plains has made a substantial profit compared to this time last year.
The ethanol producer made $15.6 million (€11.8 million) in profits during the first quarter of this year alone. This is up from the $9.3 million loss the company reported a year ago.
According the chief executive Todd Becker the company’s margins narrowed during the quarter as ethanol supplies flooded the market.
‘We believe margins should expand as the summer driving season begins,’ explained Becker. ‘We also expect passage of the proposed E15 waiver would have a positive on demand for the rest of the year.’
The ethanol producer made $15.6 million (€11.8 million) in profits during the first quarter of this year alone. This is up from the $9.3 million loss the company reported a year ago.
According the chief executive Todd Becker the company’s margins narrowed during the quarter as ethanol supplies flooded the market.
‘We believe margins should expand as the summer driving season begins,’ explained Becker. ‘We also expect passage of the proposed E15 waiver would have a positive on demand for the rest of the year.’
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