Jatoil report progress towards jatropha oil production
Jatoil’s first shareholder newsletter indicates they are making progress with their plans to become a major jatropha oil producer.
Jatoil’s first major transaction post-IPO was to acquire a controlling interest in PT Biodiesel Austindo. PT Biodiesel Austindo have started planting in Indonesia and should have their first agri-station (small planting that establishes the nursery and oil extraction facilities) by May this year. By the June 2008 PT Biodiesel Austindo anticipate they will have land use agreements for 120,000 hectares.
Photo: Jatoil shareholder newsletter
Jatoil and Green Energy Vietnam are setting up a joint venture under the Jatoil Group with the aim of establishing 5,000 hectares of jatropha plantations in Vietnam. Jatoil are also looking at similar arrangements across Asia and Sri Lanka.
The high price of palm oil (previous post) is pushing jatropha oil prices up. According to Jatoil the price of crude jatropha oil has increased from USD320 per tonne to USD500 per tonne in the last 30 months. Given biodiesel usage in the US and Europe doesn’t look like decreasing any time soon it appears the future is looking good for Jatoil. All they need to do now is get through the next couple of years until they can start large scale production and hope the market is still good when they get there.
Source: Jatoil Newsletter March 08 (thanks for the tip Sreenivas)
Filed under: Agriculture, Biodiesel, Biofuel, Projects | Tagged: crude jatropha oil, Green Energy Vietnam, Indonesia, Jatoil, jatropa, PT Biodiesel Austindo, Vietnam
Brazilian government has push the farmers to produce more raw material for biofuel.
Jatropa is one of the best because of its production over the years and doesn’t compete with food.
hai, friends i am working as project manager at ghana. i would like to learn on lot about jatropha totally, if int. pl reply .goodday bye