CIIF-OMG Seeks Higher Biodiesel Blend
by James A. Loyola (Manila Bulletin) …He (CIIF OMG president and chief executive officer Jesus L. Arranza) said the upward adjustment of the minimum mandated biodiesel blend is justified since the production of copra has been abundant and is expected to further increase as output is boosted by the government’s fertilization program.
Arranza said the price of petroleum and correspondingly, that of diesel and gasoline, is also expected to rise because of increasing demand in the world market brought about by the expected global recovery.
“The recent weakness in the price of coconut oil has caused the price of coco-methyl ester or biodiesel to drop below the price of diesel, something that has never happened before, making it ideal to use more of the alternative fuel,” noted Asian Institute of Petroleum Studies Inc. (AIPSI) executive director Rafael Diaz.
He explained that, “while the DOE’s Energy Plan calls for B5 by 2015 and, eventually, B10 and B20, there is no better opportunity than now when biodiesel is cheaper than diesel.
…He added that this upward adjustment of minimum blend would result in sustained demand for copra and crude coconut oil, lessen dependence on foreign buyers of crude coconut oil, generate savings in foreign exchange that would otherwise been used to pay imported oil. READ MORE
