Mission Restarts Biodiesel Output
Australian listed biodiesel producer Mission Biofuels Limited is restarting production of palm methyl ester (PME) at its Malaysian plant
Australian listed biodiesel producer Mission Biofuels Limited is restarting production of palm methyl ester (PME) at its Malaysian plant and will “profitably” produce and sell about 4,000t of biodiesel in May, the company said.
Mission is looking to secure “moderate” quantities of feedstock at reasonable prices to produce and sell biodiesel on a “jobbing basis”, the firm said. Market sources said the economics of biodiesel production have improved after feedstock palm oil prices stayed on a sideways trend for over the past month even as fossil fuel prices surged.
Mission said its glycerin refining “is being ramped up to full capacity of 900t from May 2008 onwards”.
As biodiesel production margins turned negative with the surging price of feedstock palm oil, a number of companies, including Mission and Australian-listed Natural Fuel Limited, stopped production of PME and concentrated on refining crude glycerin that yielded attractive margins.
Mission said it was on target to post a gross profit of Australian $9mn ($8.45mn) for the 2007-2008 financial year.
Mission has built a 100,000t/yr biodiesel plant near Malaysia’s Kuantan Port, which also produces 4,000t/yr of palm fatty acid distillate (PFAD) and 10,000t/yr of 99.7 pc pharmaceutical grade glycerine.
A second plant that will produce 250,000t/yr of biodiesel, 10,000t/yr of PFAD and 25,000t/yr of 98pc technical grade glycerine is currently under construction next to the first facility.
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