PALMOILMAGAZINE, JAKARTA – In order to implement the mandatory biodiesel program in accordance with Article 19 paragraph (1a) of Presidential Regulation (Perpres) No. 66/2018, which amends Perpres No. 61/2015 on the Collection of Palm Oil Plantation Funds, the conversion price of crude palm oil into biodiesel is set at US$ 85 per metric ton (MT).
For September 2024, the biodiesel Market Index Price (MIP) is set at IDR 12,389 per liter, with additional transportation costs. This pricing is effective from 1 September 2024.
The MIP for vegetable-based biodiesel has been calculated according to the Minister of Energy and Mineral Resources Decision Number 3.K/EK.05/DJE/2024, which outlines the Market Index Price for biodiesel derived from vegetable oils mixed with diesel fuel.
According to the Attachment Number T-3384/EK.05/DJE.B/2024, on 29 August 2024, the transportation costs would refer to the maximal cost of vegetable oil kinds of biodiesel that is mixed to diesel fuel that is regulated in the decision of minister about biodiesel MIP that is mixed to diesel fuel.
“Currency conversion used the medium average reference in Indonesian Bank since on on 25 July 2024 until 24 August 2024, that was IDR 15.978,” the notes wrote as Palmoilmagazine.com quoted from the official page of General Directorate of New Renewable Energy and Mineral Resource, Friday (6/9/2024).
It meant, what Palmoilmagazine.com calculated, biodiesel MIP in September 2024 got increased IDR 7/liter or tended to be stagnant to August 2024 MIP that was IDR 12.382/liter. (P2)
