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#1 Today 02:41:38
Indonesia Signs 15.6 Mln Kilolitres Biodiesel Allocation For 2025
Biodiesel allotment decree was waited for by market
Indonesia had prepared to introduce higher biodiesel mix on Jan. 1
Palm oil benchmark agreement rose 1% after previous fall
Government intends for 50% biodiesel mix in 2026
(Recasts with energy minister's remark)
By Bernadette Christina and Fransiska Nangoy
JAKARTA, Jan 3 (Reuters) - Indonesia Energy and Mineral Resources Minister signed a decree on Friday assigning 15.6 million kilolitres (KL) of biodiesel for 2025 distribution, while providing the market up until the end of next month to adjust to the higher level of the fuel in the mix.
Indonesia, the world's largest exporter of palm oil, had planned to introduce the obligatory requirement of 40% palm oil fuel in biodiesel on Jan. 1, up from 35% now.
"The ministerial policy has actually been signed," the minister Bahlil Lahadalia told reporters, adding the federal government was working to increase the compulsory biodiesel mix to 50% next year.
Eniya Listiani Dewi, a ministry senior authorities, stated biodiesel producers and fuel merchants will be offered up until Feb. 28 to adjust to the B40 mix. She said the hold-up was since of technical obstacles connected to aids for the fuel.
The non-implementation on Jan. 1. had caused a 2.6% drop in the Malaysian palm oil standard contract on Thursday. On Friday, it recovered by around 1%.
Fuel merchants and biodiesel manufacturers had actually stated they were unable to draw up contracts for biodiesel circulation without the decree.
The biodiesel allowance for 2025 suggested a boost from 2024's approximated biodiesel intake of 12.98 KL, ministry data showed on Friday.
Of the total allowance for this year, 7.55 million KL is for the public service commitment (PSO), which covers sectors such as public transport, whose sales will be subsidised by the country's palm oil fund.
"The remaining allocations will be cost market value. The non-PSO allocation is set at 8.07 million KL," Bahlil said, including the fund could not subsidise the rate space in between the palm oil and nonrenewable fuel sources for the overall allowance.
BPDPKS, the company in charge of collecting and managing the palm oil funds, estimated in November B40 would need a 68% aid increase.
To help finance that, Indonesia prepares to increase its export levy for crude palm oil (CPO) to 10% from the present 7.5%, however for that to take place, another main regulation is needed. (Reporting by Bernadette Christina Munthe, Fransiska Nangoy, Dewi Kurniawati; modifying by John Mair, Savio D'Souza, Shri Navaratnam and Barbara Lewis)
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