In Germany, Reuters reported that German biofuel producer CropEnergies recorded a drop in first-quarter core profit, hit by softer ethanol prices and lower production due to maintenance shutdowns.
The company’s Ebitda fell 74% to $27.2 million in the second quarter, compared to the same period last year.
CropEnergies, which makes ethanol and animal feed from renewable materials such as biomass, posted a 21% decline in ethanol production to 221,000 cubic meters during the quarter from 281,000 cubic meters a year earlier, according to the report.
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