Verbio’s biodiesel output falls
Germany-based biofuels company Verbio's biodiesel output took a steep fall in the first half of 2009.
The company’s biodiesel production fell from 300,000 tonnes to 288,000 tonnes. This led to reduced bioethanol prices, which caused a loss for the company. Verbio posted a nine month loss of €14.9 million.
Verbio blames Germany’s increased taxes on biodiesel. This cut sales at petrol stations but higher demand for biodiesel blending at oil refineries compensated for previous losses.
Although the company’s bioethanol output has risen this year the company stated it was only working at 65% of bioethanol production capacity.
‘Compared with the corresponding period last year the price of ethanol decreased in the first three quarters 2009 of about 17 percent on average,’ Verbio said.
The newly elected Government in Germany has stated that it will review the biofuel tax.
Verbio said: ‘A sustainable improvement in Germany's biofuel industry was only expected if the new German government fulfils its commitments to help the sector’.
The company’s biodiesel production fell from 300,000 tonnes to 288,000 tonnes. This led to reduced bioethanol prices, which caused a loss for the company. Verbio posted a nine month loss of €14.9 million.
Verbio blames Germany’s increased taxes on biodiesel. This cut sales at petrol stations but higher demand for biodiesel blending at oil refineries compensated for previous losses.
Although the company’s bioethanol output has risen this year the company stated it was only working at 65% of bioethanol production capacity.
‘Compared with the corresponding period last year the price of ethanol decreased in the first three quarters 2009 of about 17 percent on average,’ Verbio said.
The newly elected Government in Germany has stated that it will review the biofuel tax.
Verbio said: ‘A sustainable improvement in Germany's biofuel industry was only expected if the new German government fulfils its commitments to help the sector’.
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