This invention describes a low cost biofermentation medium, and an economical method using the medium, for the manufacture of alpha , omega -alkanedicarboxylic acids. The invention provides a biofermentation medium and a method of bioproduction for these important diacids which makes their large scale commercial production economically feasible using a biocatalyst. This method of production obviates the need for chemical synthesis using expensive starting materials from fossil fuels, and does not generate a costly hazardous waste stream.