D&L Industries, Inc., the parent company of the nation’s largest biodiesel producer, Chemrez Technologies, has announced that it is receiving pre-orders from clients in anticipation of the new higher coco methyl ester (CME) blend for diesel fuel, set to be implemented on October 1, reported Philipine News agency.
As per media report, during a virtual press briefing on Tuesday, D&L’s president and CEO Alvin Lao expressed optimism about the forthcoming increase in the biodiesel blend from 2 percent to 3 percent, which will start on October 1. Lao noted that the company is expecting a rise in biofuel orders this quarter, which is anticipated to enhance its performance in the latter half of 2024.
“Although the increase in the biodiesel blend won’t take effect until October 1, we have already observed substantial advance orders from our customers who want to be prepared,” Lao stated.
According to the Department of Energy’s Circular 2024-05-0014, all diesel fuel in the country will need to contain at least 3 percent CME, with a planned gradual increase to 4 percent next year and 5 percent the following year. This policy aims to promote cleaner energy, reduce fuel prices, and create additional opportunities for local coconut farmers and biodiesel producers.
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