Natural Fuel signs jatropha deal

Natural Fuel Ltd. has signed a deal that will supply its planned biodiesel plant in Singapore with jatropha from Madagascar from 2009, the Australia-based producer said in a statement. Under a letter of intent, U.K.-based GEM BioFuels has agreed to supply up to 55% of its crude jatropha oil to Natural Fuel at US$500 per metric ton, FOB Madagascar. Earl McConchie, CEO of Natural Fuel, described the price as “very favorable,” compared with current prices for palm oil. The final deal will be agreed after GEM finishes its listing on AIM, the alternative listings market in the U.K., and part of the London Stock Exchange. (October 22, 2007)