FUQING CITY, China, Nov. 11 /Xinhua-PRNewswire-FirstCall/ -- China Clean Energy Inc. today announced that, as of November 10, 2008 it has resumed biodiesel production.
China Clean Energy decided to resume biodiesel production at its existing plant in light of a recent drop in raw material prices, thus allowing the Company to enjoy sufficient margins to make this business segment profitable again. Currently the selling price of biodiesel is in the range of RMB5,500- RMB6,000, as compared to approximately RMB4,800 in second quarter of 2008. Feedstock prices, including yellow grease, cotton seed waste and rape seed waste are currently around RMB2,500-RMB2,700 per ton. At current prices for biodiesel and feedstock, the Company expects to achieve a 23% gross margin on its biodiesel product.
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