10/04/2002 (Financial Times) - The Philippine Coconut Authority (PCA) hasstarted to look for investors that would fund the commercialization of itscoconut diesel fuel, PCA regional director Lornito Orillaneda said.He said a committee has been created to handle investor participation inthe project."We will give it to a private company," Mr. Orillaneda said, adding thePCA laboratory has a daily output of only three drums, or 600 liters aday, of coconut diesel used in its vehicles.Earlier, the Department of Agriculture, where PCA is an attached agency,asked President Gloria Macapagal Arroyo to issue an executive order thatwill encourage investors to look at the viability of commercializing cocodiesel, which earns around 12% of the gross income in royalty fees.A report earlier said the three major participants in the petroleumindustry - Petron Corp., Pilipinas Shell Petroleum Corp. and Caltex(Phils.), Inc. - have expressed willingness to use coco diesel in dilutingsulfur content in their commercial diesel products.PCA has gone into a five-year research to perfect its coco diesel,scientifically referred to as the coconut methyl ester (CME), a chemicalcompound proven to have reduced smoke emission in vehicles.The World Association of Engine Manufacturers has endorsed a 5% CME ondiesel fuel.Francisco Fajardo, PCA bio-fuel program officer, said that a 1% CME blendon diesel fuel is enough to reduce to about 2.3% sulfur content in smokeemitted.Some groups have been batting for the lowering of sulfur content of dieselfuel because of its danger as this was specified in the Clean Air Act. ByJan. 1, 2003, the law specifies that sulfur content in diesel fuel must belowered to 1.2%.