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Ethanol Industry Looking Up
By Mr Ethanol | August 4, 2008
Chicago Tribune:
The industry, which buys corn to make ethanol, has been finding it tough to make even a tiny profit, said ethanol consultant Mark Luitjens of Aberdeen, who has been part of the industry since 1992.
“For the past few months, the plants have struggled, and some have had negative (profit) margins,” he said. “Today, with the current cash price of corn and the price of ethanol, the plants are very close to breaking even or making a little money.”
There’s evidence of long-term optimism.
“Ethanol producers who have been in the industry for a long time and have good risk management operations will be able to weather any times of challenging margins,” said Nathan Schock of Poet, a Sioux Falls-based ethanol enterprise with a production plant west of Groton.
Brookings-based VeraSun Energy Corp. announced recently it will open its ethanol plant in Hankinson, N.D., a few miles north of the South Dakota-North Dakota border near I-29. The plant was built in 2006, but its opening had been on hold because of volatility in the market, VeraSun officials said.
However, Glacial Lakes Energy’s plans to build an ethanol plant at Meckling in Clay County remain on hold, said Tom Branhan, the company’s chief executive officer of the Watertown-based company that operates the Glacial Lakes Energy, LLC Mina ethanol plant and is involved with the Redfield Energy ethanol plant north of Redfield. Some site work is done at Meckling, but work was halted when the price of corn spiked, Branhan said. Read full article.
Topics: Ethanol, Industry, News, Trends |
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