Palm oil may well become a viable energy option as well as find new industrial uses according to Dorab Mistry, director of Godrej International, India. The use of this oil as an energy source has been restricted owing to concern of its effect on the environment. Once a certified sample is produced, we could be on our way to solving our energy crisis as well as addressing environmental issues.
A more environment friendly option, palm oil produces biodegradable oleochemicals replacing harmful petrochemicals in its use as a bio- fuel. Palm oil would give the World energy security through bio- fuel use and could create a whole new market in the near future.
At present the cost of producing one tonne of palm oil is $350 which is quite profitable. Although costs could decline with a decline in the cost of fertilizers and the price of land.
Pic courtesy Geoff Leeming on flickr.com
Leave a comment