Manila, Feb. 28 -- D&L Industries, Inc., the country's largest food ingredients and oleochemical manufacturer, has benefitted from the government's mandated increase in biofuel mix in the fourth quarter of 2024.

In a virtual press briefing Friday, D&L president Alvin Lao told reporters that the oleochemicals and other specialty chemicals business reported an 18 percent growth in revenues and 7 percent in net income.

Chemrez Technologies, Inc., D&L's biodiesel manufacturing unit and the country's largest biofuel producer, also contributed 28 percent to the company's total net income for 2024. This increased from its 27 percent share in D&L's earnings in 2023, even though the higher biofuel blend was implemented in Q4 last year.

On Oct. ...