Gapuma Switzerland: At the Heart of European Biofuels
26 May 2026 Rafael Fraletti, Charles Percheron and Fabrice Brunet – Managing Director, Switzerland – recently attended the 10th European Biofuels Conference – organised by Dropet, a division of Marex – held at the Pestana Cidadela Cascais in Portugal. Now in its tenth year, the conference has established itself as a landmark gathering for buyers, sellers and companies active in the European biofuels markets. The three-day programme combined substantive keynote sessions with extensive networking. Argus Media’s Giulia Squadrin and Joshua Thomas Michalowski opened proceedings with an overview of European biofuels market trends, pricing and outlook, while Andreas Bodenmueller of Verbio examined the implications of RED III through the lens of the German experience. Beyond the formal sessions, the format allowed for the kind of frank, informal dialogue that rarely happens in a purely transactional setting – something Gapuma Group values highly as we continue to build our presence in this space. For us, conferences such as this one are not simply networking events. They are an essential part of understanding where markets are heading, and of positioning ourselves to serve our clients well. We look forward to the conversations already in progress as a result.
GREEN STEEL: SUBSTANCE OR SIGNAL?
19 Ferbuary 2026 By: Shahab Mossavat The steel industry accounts for roughly 7% of global greenhouse gas emissions. If we are serious about decarbonisation, it has to change. But is the emerging green steel market a genuine structural shift, or an expensive exercise in corporate optics? The numbers, right now, suggest something uncomfortably in between. 7% of Global Carbon Emission are Produced by Steel Makers Europe has what passes for an established green steel market — and it is struggling. Traded volumes for flat-rolled green steel remained below 200,000 tonnes throughout 2025, which is vanishingly small against a European market that consumes some 140 million tonnes annually. Fastmarkets’ green steel premium (for product below 0.8 tonnes of CO₂ per tonne of steel) has declined since the start of the year, and sources in the market describe buying as almost entirely project-based — nobody, as one Northern European buyer put it, buys green steel “back-to-back.” The spot market has been virtually non-existent since the start of 2026. That is not a market. That is a pilot programme with a premium attached. Part of the problem is definitional chaos. There is no common standard for what “green steel” even means, and buyers in some regions reportedly have no clear idea what they need. When the foundational vocabulary is contested, credibility suffers — and with it, the willingness to pay. The reduced-carbon tier (1.4–1.8 tCO₂ per tonne) saw its premium fall 50% in just three months to a meagre €25 per tonne, suggesting that when the environmental story becomes incremental rather than transformational, buyers simply revert to price. And yet dismissing green steel entirely would be equally wrong. The structural forces pushing towards it are real and are gathering pace. The EU’s Emissions Trading System is progressively withdrawing free allowances from blast furnace producers, and the Carbon Border Adjustment Mechanism, now entering its definitive phase, will impose equivalent carbon costs on imported steel. Analysis by CRU suggests that by 2032, the CBAM charge will have risen sufficiently to theoretically return profit-maximising output for EU mills to pre-ETS levels — meaning the economics of green production will tighten around conventional steelmaking from both ends. ArcelorMittal’s confirmation of a €1.3 billion electric arc furnace in Dunkirk, citing EU policy confidence, is a signal worth noting even if the investment was scaled back from its original ambition. EU is Withdrawing Incentive Schemes The forecasts point towards rising hot-rolled coil prices across all production routes to 2035, with the green premium narrowing but persisting — from roughly 23% today to around 8% by 2035 as EAF capacity expands and legacy blast furnace costs compound under regulation. The trading angle For those of us who remember steel as a traded commodity, there is a further wrinkle. Physical steel trading has largely disintermediated over the past decade; end-users go direct to mills, and the role of the merchant has contracted sharply. Green steel, paradoxically, may be reopening a gap. Because green steel is niche, project-specific, and negotiated on terms that vary considerably between transactions, the information asymmetries that once justified intermediaries are back. Mills producing green product need buyers who understand what they are actually purchasing. Buyers with Scope 3 obligations need supply that is verifiable and documented. That is not a spot market. That is a relationship market — and relationship markets have historically rewarded those who understand both sides of the transaction. Green Steel Sheets and Cold Rolls Whether that translates into a commercial opportunity depends on how quickly mandated demand — through green public procurement under the EU’s forthcoming Industrial Accelerator Act — moves from political intention to contracted reality. One mill source was blunt: large-scale demand for green steel can only be stimulated through public projects. Without that, it remains a niche. The honest verdict is this: green steel is not yet efficient as an environmental instrument, because its scale is too small to move the emissions needle. But the regulatory architecture being constructed around it is serious, and the cost convergence is real and mathematically predictable. The performative phase — buying a few thousand tonnes to put in the sustainability report — is giving way, slowly, to something more structural. The question for commodity-focused businesses is not whether green steel matters. It is whether they are positioned to participate when it does. Gapuma Group monitors developments across physical commodity markets. We welcome discussion from producers, buyers, and investors navigating the energy transition.
K Show 2025: Gapuma Seizing the Opportunity Innovation, Collaboration, and Global Partnership
16th October 2025 Every three years, K Show Düsseldorf brings the global plastics and rubber industry together under one roof, showcasing the ideas and technologies shaping the future of sustainable manufacturing. This year, Gapuma was represented by Purchasing Director Russell Brill, who joined thousands of international delegates to engage with long-standing suppliers and emerging innovators. His meetings reinforced Gapuma’s commitment to resilient, forward-looking partnerships grounded in trust, quality, and shared growth. For Gapuma, K Show is far more than an exhibition. It is an essential forum for exchanging insight, exploring new innovations, and strengthening the collaborative spirit that underpins our global supply chain. We extend our thanks to all partners and colleagues for their hospitality, inspiration, and continued confidence. Together, we remain focused on driving progress and sustainability across the industry.
From Plastic Waste to Elastic Asset
2nd October 2025 New scientific breakthroughs are revealing how waste can be re-engineered into high-value resources — reshaping both supply chains and the wider sustainability landscape. Researchers at the University of Edinburgh have demonstrated how waste plastic can be transformed into something as commonplace as paracetamol, using genetically engineered microbes. At the centre of this process is E. coli: once known primarily as a gut bacterium, now reimagined as a versatile industrial platform capable of producing insulin, flavours, fuels, and a growing list of essential commodities. For us at Gapuma, this breakthrough represents far more than a laboratory milestone. It signals the direction of travel for global supply chains. If waste can be converted into feedstock, then the long-standing challenge of environmental disposal becomes an opportunity — turning waste into a resource rather than a burden. This shift has profound implications for commodity markets. It is not about replacing raw materials overnight, but about preparing for a future in which sustainability, efficiency, and resilience are fundamentally interconnected. This is ESG in action: innovation that lightens the environmental footprint while strengthening the availability of products the world depends on.
Gapuma in Côte d’Ivoire
23rd September 2025 Our Business Development Manager, Yanish Bhageerutty, has recently completed another successful visit to Côte d’Ivoire – a market where Gapuma continues to strengthen its presence and contribute meaningfully to long-term growth. For more than a decade, Côte d’Ivoire has stood out as one of Sub-Saharan Africa’s most dynamic economies and a genuine regional hub. Its success reflects sustained growth, solid macroeconomic fundamentals, and an ambitious shift away from dependence on raw commodity exports towards value-added industry and services. The country’s progress has also been shaped by the resilience and ingenuity of its private sector. While challenges remain – including a large informal economy and the need for broader inclusion – Côte d’Ivoire is firmly positioned for continued transformation. Recent indicators underline this trajectory. The country has recorded some of Africa’s strongest sustained growth rates, averaging around 8% between 2012 and 2019, and maintaining momentum despite global headwinds. Diversification is accelerating across industry and services, inflation remains comparatively low at 3.8% in 2024, and fiscal stability is improving. Côte d’Ivoire also holds a recognised leadership role in trade and investment within ECOWAS, supported by strategic investments in education and skills that are building the human capital needed for the next phase of development. Territorial inequalities and climate risks continue to present challenges, but the overall outlook remains positive and forward-looking. We are proud that Gapuma is contributing to this progress. And with Yanish pictured by the restored Abidjan Lagoon, proudly wearing his Gapuma G-shirt, the symbolism is unmistakable: a revitalised Côte d’Ivoire and a company committed to reaching places where others cannot.
Gold: More Than a Metal
16th September 2025 When most people think of gold, they imagine vaults, bullion, and financial security. But the World Gold Council’s documentary, Touched by Gold, reminds us that this remarkable metal has always meant much more. Through the life and art of Sir Elton John, the film highlights how gold has shaped culture, creativity, and even medicine. From the glitter of a gold lamé suit at Glastonbury to the unseen gold components in pacemakers and HIV-detection technology, gold emerges not only as a symbol of wealth but also as a catalyst for human progress. This story resonates strongly in Africa, where Ghana’s gold industry has expanded to become the continent’s pre-eminent producer. Gapuma is proud to contribute to this success, supplying the chemicals essential for safe and efficient gold extraction. Importantly, we prioritise sourcing the least environmentally impactful, most sustainable options, ensuring progress goes hand in hand with responsibility. At Gapuma, we know that commodities are rarely just “raw materials.” They are resources that inspire innovation, drive industries, and transform societies in ways both visible and unseen. The story of gold, like many vital resources, is ultimately a story of people, possibility, and progress. Perhaps the lesson is this: what shines on stage can also save lives in silence.
Shifting Sands: Libya’s New Gas Venture
28 August 2025 Libya’s National Oil Corporation (NOC) has announced the establishment of Jalyanah, a new company dedicated to gas exploration and production, headquartered in Benghazi. Acting chairman Masoud Suleiman outlined plans for Jalyanah to develop gas discoveries in concession MN 7, currently operated by the Arabian Gulf Oil Company. Negotiations are already under way with a major international consortium, including Eni, TotalEnergies, ADNOC, and TPAO, reflecting Libya’s ambition to forge partnerships across Europe, the Middle East, and Turkey. The initiative aims to accelerate production from undeveloped fields, addressing rising domestic demand for power and industry while reducing costly diesel dependency. It also safeguards Libya’s export commitments to Italy and protects the state budget from potential penalties. Investors face questions over viability, however. Libya remains politically divided, with the Government of National Unity (GNU) in Tripoli and the Government of National Stability (GNS) in Benghazi each asserting legitimacy. Any new entity based in the east inevitably raises considerations around legal clarity, governance, and contractual security. Yet there is reason for cautious optimism. By approaching the venture through a lens of enlightened self-interest, the shared objective of monetising gas reserves and meeting domestic energy needs could create common ground between east and west. In a country long hindered by division, Jalyanah may become a platform for cooperation rather than conflict. For global energy players and commodities traders, the project represents both an opportunity and a watchpoint: unlocking reserves of strategic importance while navigating a complex political landscape.
Maize Diversion – Fuel vs Food: Is India’s Ethanol Ambition Outpacing Agricultural Reality?
31st July 2025 India’s surge in maize diversion for ethanol production — from just 0.8 million tonnes in 2022–23 to a projected 12.8 million tonnes in 2024–25 — is raising urgent questions across agriculture, nutrition, and trade sectors. More than a third of the nation’s maize output is now earmarked for fuel. The consequences are already evident: rising poultry feed costs, reduced food availability in rural communities, and a sharp increase in import dependency. Maize imports have soared by almost 8,000% in the same period, transforming India from a net exporter to a net importer of the grain for the first time in decades. Maize plays a dual role in India’s economy. Beyond being a biofuel feedstock, it is a staple food in many tribal regions and the cornerstone of the animal feed industry. Redirecting such a large share of output to ethanol, encouraged by pricing incentives and blending mandates, risks eroding food security and distorting crop priorities. Industry experts and policymakers are calling for a recalibration: ethanol expansion should be based on surplus production and sustainable sourcing, ensuring India’s energy ambitions do not compromise agricultural resilience. SEO Meta Description:India’s rapid maize diversion to ethanol risks higher feed costs, reduced food supply, and soaring imports. Experts urge balancing energy targets with agricultural stability.
Biofuels, Policy, and the Changing Dynamics of Soybean Oil
Source: Reuters / USDA Report 16th July 2025 A quiet transformation is underway in the global soybean oil market — one shaped by tightening U.S. biofuel policy and surging domestic demand. According to the latest USDA figures, over half of all U.S. soybean oil will be consumed by domestic biofuel producers in 2025/26. Usage is forecast to reach an unprecedented 15.5 billion pounds — a year-on-year increase of more than 26%. In contrast, U.S. exports of soybean oil are expected to fall by nearly 75%. This shift reflects a confluence of regulatory and economic forces, including: ✅ Expanded blending mandates from the U.S. Environmental Protection Agency✅ Restrictions on renewable fuel imports and non-domestic feedstocks✅ Enhanced clean fuel tax credits and state-level incentives Together, these changes elevate the role of domestically sourced vegetable oils — particularly soybean and canola — as cornerstone feedstocks in the global energy mix. For stakeholders across the agri-commodities, biofuels, and renewables sectors, this signals a reshaping of priorities and pressures. Procurement strategies, trade flows, and refining capacity are all being recalibrated to meet the new demands of the clean energy transition. At Gapuma Group, we continue to track these developments closely. Understanding the interplay between global trade, energy security, and sustainability is central to our work — and to the future of responsible supply.
🔋 Gapuma Attends 9th European Biofuels Conference in Marbella
10th June 2025 Senior representatives from Gapuma Switzerland AG—Jacques Landolt (Director, Biofuels), Fabrice Brunet (Managing Director), and Rafael Fraletti (Senior Trader)—participated in the 9th European Biofuels Conference, held in Marbella from 2–6 June 2025. Organised by Dropet and hosted at the Hotel Don Pepe Gran Meliá, the event brought together leading figures from across the European biofuels and renewable energy sector. The conference addressed key challenges and emerging trends shaping the future of sustainable fuels in Europe. Discussions centred on regulatory alignment across EU member states, traceability in biofuel supply chains, and the commercial strategies needed to support large-scale decarbonisation. Participants included a wide range of stakeholders, from producers and refiners to policy advisors and international traders. Notable attendees included ePURE (the European renewable ethanol association), CRISTALCO, Ensus, Marquis Energy, iEthanol, and influential policy groups such as EWABA and the European Biodiesel Board. Their engagement reflected the sector’s growing urgency in aligning innovation, regulation and market demand to support the continent’s clean energy transition. For Gapuma, the event offered a valuable opportunity to strengthen partnerships, exchange insights with key players in the field, and deepen our strategic commitment to building robust and sustainable biofuel supply networks. These discussions reinforce our mission to deliver energy solutions that are not only commercially viable but also aligned with global environmental priorities. We extend our sincere thanks to Dropet and all participating organisations for their collaboration and contribution to a dynamic and timely event.