GreenGold Ray expects crude jatropha oil demand rise

Philippines’ Green Gold Ray Energies Inc. said it expects demand for crude jatropha oil to rise, as biodiesel producers are looking for cheap alternatives to materials such as soybean oil. It also expects consumers to turn to biodiesel when petroleum prices rebound and so is continuing to expand its jatropha plantations via working alliances with jatropha growers in the Philippines’ Mindanao island group. Six out of the known 22 Indigenous Tribal Groups of Mindanao have joint working alliances with GreenGold, the company said: the Higaonon & Maranao, of Lanao Region, the Manobo of Agusan Region, the Tiboli & Mandaya of Davao Region and the Sobanon of Zamboanga. It is also aiming to construct a total of three biodiesel jatropha oil processing plants and biodiesel oil refineries by the end of 2010. Two are set in the Special Economic Zone (SEZ) sites of Nasipit and Davao and one will be located in the U.S. state of Texas. (March 31, 2009)