Carotech to supply biodiesel to Mercuria Energy

Malaysia’s Carotech Bhd has signed a 170 million ringgit (US$50.01 million) biodiesel supply agreement with Mercuria Energy Trading SA for the supply of carodiesel (palm methyl ester). Mercuria, whose trading headquarters is in Geneva, Switzerland, is one the world’s top five independent energy traders. The agreement calls for Carotech to supply Mercuria with at least 60,000 tons of carodiesel, or 5,000 tons monthly, at a price based on a formula at a premium over crude palm oil prices. The agreement will commence from January 2010 and will end in December 2010. (October 27, 2009)