PALMOILMAGAZINE, JAKARTA – To implement the mandatory biodiesel program outlined in Chapter 18, Article 1a of President’s Regulation Number 66/2018—an amendment to President’s Regulation Number 61/2015 regarding the use and increase of the Palm Oil Plantation Fund—we announce that the conversion rate for crude palm oil (CPO) to biodiesel will be set at US$ 85 per ton.
Additionally, the market index price (MIP) for biodiesel in October 2024 will be IDR 12,633 per liter, plus transportation costs, effective from 1 October 2024.
The MIP for vegetable-based biodiesel is determined by the Minister of Energy and Mineral Resources’ Decision Number 3.K/EK.05/DJE/2024, which addresses the index price of vegetable biodiesel mixed with diesel fuel. Transportation costs are governed by Attachment I of the Minister’s Decision Number 153.K/EK.05/DJE/2024.
Also Read : New Biodiesel Pricing and Transportation Costs Effective August 1, 2024
According to Document Number T-3823/EK.05/DJE.B/2024, dated 29 September 2024, the transportation costs must align with the maximum rates for vegetable-based biodiesel mixed with fuel, as specified by the relevant ministerial decision.
“The conversion of currency should refer to the medium average currency in Indonesia Bank since on 25 August 2024 to 24 September 2024 which was at IDR 15.408,” it noted, as Palmoilmagazine.com quoted from the official page of General Directorate of New Renewable Energy and Energy Conversion, Friday (4/10/2024).
Based on what Palmoilmagazine.com calculated, palm oil biodiesel MIP in September 2024 got increased IDR 244/liter to August MIP that was IDR 12.389/liter. (P2)
