TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Components: The oleaginous seed is sunflower, colza, soybean, peanut, or preferably castor bean seed. The catalyst is sodium or potassium ethanoate. Preferred Process: The oleaginous seed is subjected to processing and drying. The reaction is carried out at 45-55degreesC for 40-60 minutes. The alcohol recovered in step (d) is completely recycled to step (a).The alkyl ester reaction products are neutralized and formulated into biodiesel for use as fuel, or neutralized and formulated as co-solvents in diesel and gasoline mixture with anhydrous or hydrated ethyl alcohol. The carbohydrates recovered from the solid phase are sieved to separate a fine fraction having a granulometry up to 20 mesh Tyler, rich in carbohydrates (89.5 wt.%), and used as cattle feed or in producing ethyl alcohol by conventional fermentation process. A coarser fraction having a granulometry higher than 40 mesh Tyler is milled until an average grain size of 20 mesh Tyler for use in fertilizer formulation and recycling to oleaginous seed culture.The weight ratio of seed to alcohol is 1.5:1-0.5:1. The catalyst is used in an amount of 1.5 wt.%. The amount of ethyl alcohol obtained by the conventional fermentation process is the amount required for performing the transesterification reaction. EXAMPLE - Raw castor bean seeds (1000 g) were added to a reactor together with ethyl alcohol (800 g) and comminuted under vigorous agitation at ambient temperature until the reaction mass was a fluid homogeneous suspension. Sodium alkoxide catalyst (40 g) was added to the mixture, and transesterification reaction of seeds was carried out at atmospheric pressure and constant temperature of 50degreesC for 1 hour under moderate agitation and reflux. The reactor charge was cooled to 40degreesC and filtered to yield solid phase (600 g) and filtrate (1240 g).    The filtrate was distilled at atmospheric pressure to recover raw ethyl alcohol condensate (680 g) and liquid residue (560 g, containing a mixture of ester, glycerine and other by products). After transferring to a decanter where it was kept for 2 hours at 25degreesC, the liquid residue indicated two distinct phases, i.e. raw glycerine (lower phase, 55 g) and ester (upper phase, 505 g). After neutralization in a column with an ion exchange resin with acidic sites, the ester had monoester content of 98.9 wt.%, acid number of 0.20 mg KOH/g, ASTM color of 1.5, free glycerine content of 0.4 wt.%, viscosity of 4.6 cSt at 40degreesC, density of 0.912, and contaminants level of 0.7 vol.%. The ester was clear and transparent.