PALMOILMAGAZINE, JAKARTA – Following Chapter 18, paragraph (1a) of President’s Regulation (PR) Number 66/2018, which pertains to the Second Amendment of PR Number 61/2015 concerning Palm Oil Plantation Fund Raising and Use, the conversion of crude palm oil (CPO) into biodiesel will cost 85 US$/metric ton (MT).
Additionally, the market index price (MIP) for vegetable fuel material in biodiesel in May 2024 is set at Rp 12,453/liter, inclusive of transportation costs effective as of May 1, 2024.
As outlined in Attachment T-1448/EK.05/DJE.B/2024 dated April 29, 2024, the transportation costs are determined based on the maximum allowable rates for vegetable fuel costs in biodiesel. These rates are governed by ministerial decisions regarding the MIP of biodiesel mixed with fuel.
Also Read: Biodiesel MIP for February 2024 Set at Rp. 11,317/liter
“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 Palmoilmagazine.com quoted from the official page of General Directorate of New Renewable Energy and Energy Conservation, Thursday (2/5/2024).
It means, based on what Palmoilmagazine.com calculated, palm oil biodiesel MIP for May 2024 escalated from Rp 275/liter to April 2024 which was Rp 12.178/liter. (T2)
