Biodiesel Price Set at IDR 10,670/liter in October 2023

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Doc. InfoSAWIT/ The MIP for vegetable oil-biodiesel in October 2023 is established at Rp 10,670 per liter, inclusive of transportation costs, which will come into effect starting on October 1, 2023.

PALMOILMAGAZINE, JAKARTA – In accordance with the third regulation of the Decision of the Minister of Energy and Mineral Resources (EMR) Number 146.K/HK.02/DJE/2021 regarding the Market Index Price (MIP) of Vegetable Oil Fuel – Biodiesel, as amended by the Decision of Minister of EMR Number 21.K/HK.02/DJE/2023, it has been determined that the conversion rate of crude palm oil to biodiesel will be set at US$ 85 per metric ton (MT).

The MIP for vegetable oil-biodiesel in October 2023 is established at Rp 10,670 per liter, inclusive of transportation costs, which will come into effect starting on October 1, 2023.

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According to Attachement Number T-4188/EK.05/DJE.B/2023 on 26 September 2023, the first, transportation cost would refer to maximal cost number to transport vegetable oil – biodiesel which is mixed to oil as it is decided on the decision of minister about MIP vegetable oi – biodiesel which is mixed to oil fuel.

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“Currency conversion would use medium average currency reference in Indonesian Bank on 25 August 2023 until 24 September 2023 which is Rp 15.317,” the regulation noted, as Palmoilmagazine.com quoted from the official page of General Directorate of New Renewable Energy and Energy Conversion. (T2)

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