Despite the odd wobble, Maple Energy (MPLE) remains on course to becoming one of the world's lowest-cost producers of fuel-grade ethanol.
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To date, 468,000 tonnes of sugar cane have been processed at its operation in Peru and this should rise to about 600,000 tonnes by the end of the year. This is 300,000 tonnes less than broker Cenkos forecast, however, because of ramp-up delays and extra unplanned maintenance midway through the year. Nevertheless, Cenkos estimates over 1m tonnes will be processed in 2013.
Maple says plant availability has improved over the past 60 days and cash costs per gallon of ethanol produced should only be 10 per cent higher than previous guidance of $1.20 (75p) to $1.30 a gallon.
