BGI joins hands with PCE to buy 20,000 tons of palm to produce premium biodiesel

BBGI Public Company Limited (BBGI) joins Bangchak Group in responding to government measures to solve palm oil price problems, joining hands with Petch Sriwichai Enterprise (PCE) to pilot the purchase of good quality palm oil from farmers at a price of 5.50 baht/kilogram, totaling 20,000 tons, to be used as raw materials to produce premium biodiesel, starting July 1. Mr. Kittipong Limsuwanroj, Chief Executive Officer of BBGI Public Company Limited (BBGI), a major biofuel producer in the country, revealed that due to the decline in palm oil prices, the government sector has sought solutions and increased the purchase price of palm oil. BBGI is ready to support the government sector by collaborating with Petch Sriwichai Enterprise Public Company Limited (PCE), one of the leaders in the integrated palm oil business, to purchase 20,000 tons of premium palm oil from farmers at a price of 5.50 baht/kilogram to extract crude palm oil (CPO) under the operation of New Biodiesel Company Limited, a subsidiary of PCE. The purchased premium palm oil will be used as raw materials to produce crude palm oil, which will be sent to BBGI to produce high-quality biodiesel. Bangchak, one of the oil traders under Section 7, will purchase biodiesel (B100) at the price set by the Energy Policy and Planning Office (EPPO). The operations of Bangchak and BBGI are to help farmers and support entrepreneurs in the production chain at various stages, from palm oil farmers, crude palm oil extractors, to B100 producers, so that entrepreneurs receive fair prices and also support the use of alternative energy that is environmentally friendly. -517-Thai News Agency Source: Thai News Agency