InfoSAWIT, JAKARTA – To implement biodiesel mandatory program as it is regulated in Chapter 18 article (1a), President’s Regulation Number 66 / 2018 abuot the Second Substitution on President’s Regulation Number 61 / 2015 about Palm Oil Plantation Fund Use and Raise, we hereby delivered that the conversion numbers of crude palm oil (CPO) to be biodiesel would be US$ 85 per ton and the market index price (MIP) of vegetable fuel kind of biodiesel in October 2024 would be Rp 12.633/liter, added by transportation cost that would be effective since on 1 October 2024.

Vegetable fuel kind of biodiesel MIP was calculated based on the number decision of the Decision of Minister of Energy and Mineral Resource Number 3.K/EK.05/DJE/2024 about Index Price of Vegetable Fuel kind of Biodiese which was Mixed to Fuel kind of Diesel and the Transportation Cost based on the regulation of Attachment I, Decision of Minister of Energy and Mineral Resource Number 153.K/EK.05/DJE/2024.

Based on the documents number T-3823/EK.05/DJE.B/2024, on 29 September 2024, the transportation cost should refer to the maximal numbers of vegetable fuel kind of biodiesel cost which was mixed to fuel that was regulated by the decision of minister about vegetable fuel kind of biodiesel MIP which was mixed to fuel.

“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 Rp 15.408,” it noted, as InfoSAWIT quoted from the official page of General Directorate of New Renewable Energy and Energy Conversion, Friday (4/10/2024).

Based on what InfoSAWIT calculated, palm oil biodiesel MIP in October 2024 got increased Rp 244/liter to September MIP that was Rp 12.389/liter. (T2)