Coconut oil price surges on biofuel plans
The Philippines’ plans for using coconut oil as biofuel and blending diesel sold at gas stations with five per cent of the alternative fuel has caused the price of coconut oil surging.
In April 2013, coconut oil prices stood at $793 a tonne – compared to crude palm oil at $800 a tonne. By September, coconut oil prices are quoted at about $900 against $721 for crude palm oil. Prices of copra, from which coconut oil is derived, have also increased while palm oil prices remained almost unchanged.
The price for coconut oil on the world markets began to rise after the Philippines announced that it would increase the use of coconut oil as a bio-fuel and began holding trials of running vehicles with five per cent blend of coconut oil with diesel in July.
The Philippine government on September 20 said it has sought comments from the stakeholders, and the B5 or five per cent coconut oil blended diesel may be implemented before the end end of 2013.
The Philippines' plans for using coconut oil as biofuel and blending diesel sold at gas stations with five per cent of the alternative fuel has caused the price of coconut oil surging. In April 2013, coconut oil prices stood at $793 a tonne - compared to crude palm oil at $800 a tonne. By September, coconut oil prices are quoted at about $900 against $721 for crude palm oil. Prices of copra, from which coconut oil is derived, have also increased while palm oil prices remained almost unchanged. The price for coconut oil on the world markets began to rise...
The Philippines’ plans for using coconut oil as biofuel and blending diesel sold at gas stations with five per cent of the alternative fuel has caused the price of coconut oil surging.
In April 2013, coconut oil prices stood at $793 a tonne – compared to crude palm oil at $800 a tonne. By September, coconut oil prices are quoted at about $900 against $721 for crude palm oil. Prices of copra, from which coconut oil is derived, have also increased while palm oil prices remained almost unchanged.
The price for coconut oil on the world markets began to rise after the Philippines announced that it would increase the use of coconut oil as a bio-fuel and began holding trials of running vehicles with five per cent blend of coconut oil with diesel in July.
The Philippine government on September 20 said it has sought comments from the stakeholders, and the B5 or five per cent coconut oil blended diesel may be implemented before the end end of 2013.
