InfoSAWIT, JAKARTA – In the implementation of the Third Regulation of Decision of Minister of Energy and Mineral Resource (EMR) Number 146.K/HK.02/DJE/2021 about Market Index Price (MIP) of Vegetable Fuel kind of Biodiesel that is Mixed into Fuel as it is substituted by Decision of Minister of EMR Number 21.K/HK.02/DJE/2023, the conversion numbers of crude palm oil to be biodiesel would be US$ 85/metric ton (MT) and MIP of vegetable oil kind of biodiesel in January 2024 would be Rp 10.896/liter and added by transportation cost that would effectively be available since on 1 January 2024.

According to the Attachment Number T-5593/EK.05/DJE.B/2023 on 29 December 2023 it was noted that the first, transportation cost would refer to maximal cost to transport biodiesel which is mixed to fuel as it is decided in the decision of minister about MIP of biodiesel that is mixed to fuel.

“The conversion of currency would apply the average medium currency of Indonesian Bank on 25 November 2023 to 24 December 2023 which was Rp 15.519,” the regulation noted as InfoSAWIT quoted from the official page of General Directorate of New Renewable Energy and Energy Conversion.

It means, just like what InfoSAWIT calculated, palm oil biodiesel MIP in January 2024 is getting cheaper Rp 78/liter compared to December 2023 that was Rp 10.974/liter. (T2)