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| Market Focus |
Kimminic’s market focus for its crude Jatropha oil and bio-diesel production is Europe and West Africa. Europe has by far the highest demand for bio-diesel, vegetable oil and feedstock for bio-diesel production and electricity production. There are several refineries set up across Europe, most of them in Germany, France, Belgium, Austria, Italy and UK with collaborations within and outside Europe, particularly, China (for rapeseed), Malaysia (for oil palm) and currently India (for jatropha oil) to meet its requirements and needs.
The second main target market for Kimminic operation is the non-oil producing countries in West Africa, including Ghana. The current oil price at over $100 per barrel has had a disproportionate impact on the African countries, 38 of which are net importers and 25 of which import all of their oil. Thirteen of the countries, which import all of their oil, are in West Africa. For these countries, an alternative, cheaper energy source, such as bio-diesel, would provide a big boost to their economies due to the high percentage of their export earning (30-45 per cent) spent on crude fossil oil imports.
Ghana alone is a major market for Kimminic. It spends close to 2 billion USD on crude oil imports annually, so the country is pinning its hopes on bio-diesel production to reduce its dependence on crude oil imports. |
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