PALMOILMAGAZINE, JAKARTA – The Palm Oil Plantation Fund Management Agency (PFMA) has taken significant steps to support Indonesia’s palm oil biodiesel program. On Tuesday, January 23, 2024, PFMA officially presented a memorandum of understanding (MoU) to fund the mandatory palm oil biodiesel program in 2024, with the event taking place in Jakarta.
The ceremony was attended by various stakeholders, including representatives from the Coordinator Ministry in the Economy, Ministry of Energy and Mineral Resources, Ministry of Finance, Vegetable Fuel Enterprises, and Oil Enterprises.
Strengthening the collaboration between PFMA and Vegetable Fuel Enterprises, Eddy Abdurachman, the Director of PFMA, personally handed over 23 MoU documents. He emphasized that these documents signify PFMA’s commitment to actively promote the biodiesel mandatory program.
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As Palmoilmagazine.com quoted from the official page of BPDPKS, Eddy Abdurachman told biodiesel mandatory program would be very significant to maintain crude palm oil (CPO) price stable by managing the supply in upstream and the absorption in the downstream sectors. He also told it needs supports and synergy from many parties to succeed the program because the goal would be about to take for advantage CPO to be biodiesel and would get new markets.
He continued, biodiesel price disparity would be distributed and would help CPO price to remain stable, implement it as national scale policy. This would contribute not only to improve the trade in this nation by reducing fuel imports but also would play its role to reduce green-house gas emission by developing new renewable energy.
Deputy Assistant Gas and Oil, Mining and Petro-chemical, Coordinator Ministry in Economy, Herry Permana emphasized that Indonesia would be committed to realize clean energy. He told biodiesel policy progress that started from B20, B30, until B35, would be the only program in the world. Herry continued it needs the best process to face energy transition with the full commitment to use renewable energy to support energy needs in this country and to encourage the economic progress nationally. (T2)