InfoSAWIT, JAKARTA – To implement biodiesel mandatory program as regulated in Chapter 18 paragraph (1a) President’s Regulation (PR) Number 66 / 2018 about the Second Substitution on PR Number 61 / 2015 about Palm Oil Plantation Fund Raising and Use, crude palm oil (CPO) conversion to be biodiesel would be 85 US$/metric ton (MT) and market index price (MIP) on vegetable fuel material in biodiesel in May 2024 would be Rp 12.453/liter and added by transportation costs that would be effective since on 1 May 2024.

According to the Attachment in the Documents Number T-1448/EK.05/DJE.B/2024 on 29 April 2024, the numbers of transportation cost would refer to the maximal numbers of vegetable fuel cost in biodiesel which would be mixed to fuel that was regulated in the decision of minister about biodiesel MIP which was mixed to fuel.

“Currency conversion would use the middle average reference in Indonesian Bank since on 25 March 2024 to 24 April 2024 which would be Rp 15.999,” the regulation noted, as InfoSAWIT quoted from the official page of General Directorate of New Renewable Energy and Energy Conservation, Thursday (2/5/2024).

It means, based on what InfoSAWIT calculated, palm oil biodiesel MIP for May 2024 escalated Rp 275/liter to April 2024 that was Rp 12.178/liter. (T2)