Biofuel Energy Corp idles Minnesota ethanol facility

Biofuel Energy Corp idles Minnesota ethanol facility

12:02 PM, 26th September 2012
Biofuel Energy Corp idles Minnesota ethanol facility

DENVER, US: Biofuel Energy Corporation has decided to idle its Fairmont, Minnesota ethanol facility until further notice. The plant ceased ethanol production as of the end of last week. The company reported that its second plant in Wood River, Nebraska continues to operate.

“Commodity margins have continued to weaken as the impact of the drought in the Corn Belt continues and ethanol remains in surplus. As a result, our current expectations are that the Fairmont plant will remain idle until we are able to secure local corn at price levels that support better margins,” said Scott H Pearce, President and CEO, Biofuel Energy Corporation.

“In the meantime, we will not be making any changes to our current operations team so that we can continue to operate the grain elevator and are in a position to re-start the ethanol plant on short notice,” said Pearce.

© WOC News

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