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The Philippines is the world’s largest exporter of coconut oil and coconut products. According to the person in charge of the country’s relevant department, Dongyang Engineering Co. has consulted on the development of coconut farmland in northern Philippines. It is reported that Dongyang Engineering Co. may begin to develop coconut farmland next month.
Since the international crude oil price surged to a record high of US$75.35/bbl in late April, Japan and other net oil importing countries in Asia are preparing to start the application of spare fuels.
The Philippines spends about US$6 billion annually on imports of crude oil and petroleum products, and it is now shifting the source of fuel feedstock to yield-rich crops to reduce its dependence on fossil fuels. In early May, the Philippines put into operation the largest coconut biodiesel plant in Asia. The plant was built by local company Chemrez with a capacity of 60 million liters per year. The Philippines currently has a coconut biodiesel capacity of 110 million liters per year.
Toyo to build biodiesel plant in Philippines
According to foreign media reports recently, Japan’s Toyo Engineering Co. plans to build an integrated coconut biodiesel plant in the Philippines. To prepare for the project, Dongyang Corporation first developed 600,000 hectares of coconut farmland.