PUBLICLY traded Chemrez Technologies Inc. said it has been registering record highs in exports of glycerine and coco-methyl esters due to a shortage of such products in the global market.

Chief operating officer Jun Lao said the newly built biodiesel plants in Malaysia, Indonesia, Australia and Singapore—intended to produce palm-biodiesel for Europe—are not operating due to a glut in the EU market.

The increase in the price of palm oil also makes biodiesel prices from these countries too expensive. As those factories are not operational, no glycerine—a by-product in biodiesel production—has been produced.

“Where the anticipated glycerine produced by these biodiesel plants is not forthcoming, there exists a market shortage hence the sudden rise in world glycerine prices,” said Lao.

ChemrezTech, he said, is now earning about $550,000 per month from the export of 400 to 600 tons of glycerine and about 220 tons of non-fuel coco-methyl esters, also known as CME, for the soap and detergent industry.

Glycerine is widely used in medical and pharmaceutical products, as well as toothpaste and paint; while oleochemicals processed from CME are used to make foam boosters in shampoos, and as active agents in detergents.

The company currently exports glycerine to China, India, Malaysia and other countries in Southeast Asia, while its coco-methyl ester products are shipped to Japan. Exports to Europe may also begin next month.

Lao said the value of the firm’s exports may further go up next month when it starts exporting higher quality CME fractions and refined glycerine, which are of higher value and thus provide better margins.

This will open up new markets, including Europe, where ChemrezTech will sell the methyl esters.

“Our image overseas is also getting better as clients overseas begin to appreciate the high quality of our products and the reliability of our supply,” Lao said.

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PUBLICLY traded Chemrez Technologies Inc. said it has been registering record highs in exports of glycerine and coco-methyl esters due to a shortage of such products in the global market.

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