JOil introduces genetically modified jatropha

At a meeting briefing earlier this year, the chief financial officer of Singapore’s JOil, Sriram Srinivasan, introduced the first-ever genetically modified jatropha plant, which contains high levels of oleic acid content in its seed. Srinivasan explained that using genetically modified jatropha, a non-edible oil-bearing plant, can lead to increased productivity and reduce dependence on other edible oils as feedstock for biodiesel. Srinivasan said that the rising global demand for oilseeds will result in higher prices. It will thus be necessary for biodiesel producers to consider feedstock such as jatropha, which is a cheaper alternative because it can grow on marginal lands. At the end of 2011, jatropha oil was sold at US$60-65 per barrel, less than half the price of palm oil, which cost US$140-180 per barrel. JOil is awaiting approval of its genetically modified jatropha from the Genetic Modification Advisory Committee (GMAC) which was established by the Singapore Ministry of Trade and Industry. Once approved, the company will start field trials and Srinivasan said JOil’s genetically modified jatropha saplings will be in the market by 2015. (May 14, 2012)