Biodiesel Market Index Price Set at Rp9,505/Liter

MINISTRY OF ENERGY AND MINERAL RESOURCES

REPUBLIC OF INDONESIA

PRESS RELEASE

NUMBER: 386.Pers/04/SJI/2020

Date: 5 December 2020

Biodiesel Market Index Price Set at Rp9,505/Liter

Ministry of Energy and Mineral Resources (EMR) through its Directorate General of New, Renewable Energy and Energy Conservation (NREEC) has set Biodiesel Market Index Price (HIP) for December 2020 at Rp9,505/liter, picking up by Rp176/liter from November price which was Rp9,329/liter. This index price will apply for biodiesel blended into oil fuels and excludes transportation cost, Head of Bureau of Communication, Public Information Services, and Cooperation of Ministry of EMR, Agung Pribadi, has said in Jakarta on Friday (4/12).

The HIP price is calculated based on the conversion rate from Crude Palm Oil (CPO) into Biodiesel at USD85/MT, with a conversion factor of 870 kg/m3. The conversion rate is set out in EMR Ministerial Decision No. 182 K/10/MEM/2020 issued in September 2020, Agung continued to explain.

CPO average price as published by state-owned agricultural trade company Kharisma Pemasaran Bersama (KPB) was Rp9,705/kg in the period 25 October-24 November 2020. The exchange rate used is the average mid-market of Bank Indonesia of Rp14,357 from the same period.

The Biodiesel HIP is effective from 1 December 2020. The market index price is set monthly and evaluated at least biannually by Director General of NREEC. (IY)

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

Agung Pribadi (08112213555)

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