Rising, Biodiesel Market Index Price Pegged At IDR 13,384 Per Liter

Biodiesel (between)

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) has set a new price for Biodiesel Nabati Fuel (BBM) in November.

Head of the Communication, Public Information and Cooperation Service (KLIK) Bureau of the Ministry of Energy and Mineral Resources, Agus Cahyono Adi, revealed that the price of the BBN Market Index (HIP) type biodiesel in November 2024 is set at IDR 13,384 per liter.

"The price of Biodiesel is effective starting November 1, 2024. This price has increased by Rp751 when compared to October 2024 which amounted to Rp12,633 per liter," he said, quoted Monday, November 11.

The calculation of the Biodiesel Type of BBN HIP is as follows:

HIP = (KPB CPO averaged + 85 US dollars per ton) x 870 kg / m3 + transportation costs. With the average CPO KPB for the period 25 September - 24 October 2024 amounting to Rp14,071 per kg.

Meanwhile, 85 US dollars per MT is the value of conversion of raw materials into biodiesel, with 870kg/m3 being the unit factor from kg to L. Meanwhile, the exchange rate uses an average middle exchange rate of Bank Indonesia with an exchange rate period of September 25-24 October 2024 of IDR 15,436.

The cost of transportation is stated in the Decree of the Minister of Energy and Mineral Resources Number 3.K/EK.05/DJE/2024 concerning the Price of the Fuel Market Index for Biodiesel Types which are mixed into Diesel Oil Fuel.