date:Jul 27, 2012
onditions in US ethanol and more normal co-product returns.
Black concluded that Tate Lyle remains a commodity-driven business.
Rocketing corn prices
The company admitted rocketing corn futures prices, which Black said had risen by 62% from mid-June to mid-July, looked set to make an impact on performance during the rest of the year. Black cautioned that higher prices could drive up the companys debt levels.
Since mid-June 2012, corn prices in the US have increased significantly as a result