InfoSAWIT, JAKARTA – To implement the third regulation as in the Decision of Minister of Energy and Mineral Resource Number 146.K/HK.02/DJE/2021 about Market Index Price (MIP) for Vegetable Oil Fuel in Biodiesel which is Mixed into Fuel as it is substituted by Decision of Minister of Energy and Mineral Resource Number 21.K/HK.02/DJE/2023, we would like to inform that conversion number of crude palm oil (CPO)to be biodiesel would be US$ 85/metric ton (MT) and MIP of biodiesel in November 2023 would be Rp. 10.653 per liter added by transportation costs. It would be effective since on 1 November 2023.

Referring to Documents Number T-4727/EK.05/DJE.B/2023 on 27 October 2023, the first is that the transportation costs would refer to maximal vegetable oil transportation cost kinds of biodiesel which is mixed to fuel material as it is regulated in the decision of minister about MIP of Vegetable Fuel kinds of biodiesel which is mixed to fuel material.

“Currency conversion uses the medium average currency of Indonesian Bank on 25 September 2023 to 24 October 2023 which is Rp 15.645,” the regulation noted as InfoSAWIT quoted from the official page of General Directorate of New Renewable Energy and Energy Conversion.

This mean, what InfoSAWIT calculated, palm oil biodiesel MIP in November 2023 gets cheaper Rp 17 per liter compared to October one which was Rp 10.670/liter. (T2)