Indonesia’s biodiesel price at Rp 12,633 per liter in October

Indonesia’s Ministry of Energy and Mineral Resources (MEMR) has officially set the biodiesel market index price for October 2024 at 12,633 rupiah per liter.

In a statement in Jakarta on Wednesday (October 2), the price has been effective since October 1, said Agus Adi, Director General of Public Communication, Public Information Service and Cooperation of the Ministry of Energy and Mineral Resources. The biodiesel market index price calculation is based on the average of crude palm oil prices sold by the Combined Marketing Office (CPO KPB) plus US$85 per ton multiplied by 870 kilograms per cubic meter, plus transportation costs.

For the period from August 25 to September 24 this year, the average price from the Joint Marketing Office was 13,211 dong per kilogram. The $85 per ton is the conversion value of raw materials into biodiesel and 870 kilograms per cubic meter is the unit conversion factor from kilograms to liters.

The exchange rate used is the average middle rate of Bank Indonesia for the period of August 25 to September 24 this year, which is 15,408 rupiah per dollar.