Gushan reports 57 percent drop in revenues; volume, prices down for Chinese biodiesel

In China, biodiesel producer Gushan Environmental Energy reported second-quarter revenues of $25.0 million, down 57 percent from the previous year and 37 percent from the first quarter. The company said that capacity increased by 15 million gallons to 100 Mgy, but sales volumes dipped 33 percent year to year and the price of biodiesel dropped 33 percent to $579.8 per ton.

The company recorded a net loss of $15 million for the period and said it had $100 million in cash reserves and no debt.

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