PALMOILMAGAZINE, JAKARTA – In accordance with the biodiesel mandatory program as outlined in Chapter 18, paragraph (1a) of the President’s Regulation Number 66/2018, amending President’s Regulation Number 61/2015 on Palm Oil Fund Allocation and Collection, the conversion cost of crude palm oil to biodiesel is set at 85 USD/metric ton.
The market index price (MIP) for vegetable oil-based biodiesel in June 2024 will be Rp 11,732/liter, plus transportation costs, effective from June 1, 2024.
This new biodiesel MIP is derived from the average CPO price at PT Kharisma Pemasaran Bersama Nusantara (KPBN) between April 25 and May 24, 2024, which was approximately Rp 12,116/Kg.
Also Read:Biodiesel MIP for February 2024 Set at Rp. 11,317/liter
The transportation costs remain consistent with the Decision of the Minister of Energy and Mineral Resources Number 146.K/HK.02/DJE/2021. These costs reflect the maximum allowed for transporting biodiesel mixed with fuel, as specified in the ministerial decision on the MIP for biodiesel mixed with fuel.
“The conversion of currency uses average currency reference of Indonesian Bank on 25 April 2024 to 24 May 2024 that was Rp 16.105,” the regulation noted as Palmoilmagazine.com quoted from the official page of General Directorate of New Renewable Energy Ministry of Energy and Mineral Resource noted, Friday (31/5/2024).
It means, what Palmoilmagazine.com calculated, biodiesel MIP in June 2024 gets cheaper Rp 721/liter to May 2024 reaching Rp 12.453/liter. (T2)
