Price

In the Philippines, the majority of biodiesel is derived from coconut oil, known as coconut methyl ester (CME). The price of CME fluctuates depending on the market location. For instance, in August 2020, CME sold for PHP 23.00 (USD 0.40) per liter in Eastern Visayas, while in Soccsksargen, it was sold for PHP 43.50 (USD) per liter, almost double the price difference. This variance could be attributed to differences in feedstock prices across regions and transportation costs.

According to data from the United Coconut Authority of the Philippines (UCAP), the highest price at which CME was sold in the country in 2022 was PHP 96.00 (USD 1.67) per liter, while the lowest price recorded was PHP 68.00 (USD 1.18) per liter. The figure below shows the highest, lowest and average CME price in t