Bioethanol HIP Rp14,779/liter in August 2020

MINISTRY OF ENERGY AND MINERAL RESOURCES

REPUBLIC OF INDONESIA

PRESS RELEASE

NUMBER: 264.Pers/04/SJI/2020

Date: 28 July 2020

Bioethanol HIP Rp14,779/liter in August 2020

Ministry of Energy and Mineral Resources (EMR) has set the Biofuel Market Index Price (HIP-BBN), the biofuel ceiling price, for bioethanol in August 2020 at Rp14,779 per liter. The bioethanol ceiling in August 2020 picks up by Rp1,020 per liter compared to July ceiling of Rp13,759 per liter.

The HIP price is set according to the provision of the Fifth Dictum of EMR Ministerial Decision Number 6034K/12/MEM/2016 on the Market Index Price of Biofuels Mixed into Oil Fuels.

"The price applies for bioethanol mixed into oil fuels and is effective from 1 August 2020," said Head of Bureau of Communication, Public Information Services, and Cooperation of Ministry of EMR Agung Pribadi in Jakarta (28/7).

The bioethanol HIP BBN is calculated based on the average price of KPB's sugar cane drops in a 3 month-period multiplied by 4.125 kg/L (the conversion factor from kilogram to liter) plus USD0.25/L (the conversion factor from raw material to bioethanol). The exchange rate used is the Bank Indonesia's mid-market in the period 15 June to 14 July 2020 at Rp14,348. (IY)

Head of Bureau of Communication, Public Information Services, and Cooperation

Agung Pribadi (08112213555)

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