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Add 'Indonesia Signs 15.6 Mln Kilolitres Biodiesel Allocation For 2025'

Antje Bury 2025-01-12 02:44:50 -06:00
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Indonesia-Signs-15.6-Mln-Kilolitres-Biodiesel-Allocation-For-2025.md Normal file

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<br>[Biodiesel allowance](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) decree was awaited by industry<br>
<br>Indonesia had planned to launch higher [biodiesel](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) mix on Jan. 1<br>
<br>Palm oil criteria agreement increased 1% after previous fall<br>
<br>Government aims for 50% biodiesel mix in 2026<br>
<br>(Recasts with energy minister's remark)<br>
<br>By [Bernadette Christina](https://www.energy-xprt.com/companies/mission-newenergy-limited-36048) and [Fransiska](https://www.crunchbase.com/organization/mission-newenergy) Nangoy<br>
<br>JAKARTA, Jan 3 (Reuters) [- Indonesia](https://www.pinterest.com.au/missionnewenergy/) Energy and [Mineral Resources](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) [Minister](https://www.google.com/search?kgmid=/m/0cqd_rb) signed a decree on Friday allocating 15.6 million kilolitres (KL) of [biodiesel](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) for 2025 circulation, while [providing](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) the market until of next month to adjust to the greater level of the fuel in the mix.<br>
<br>Indonesia, the world's largest exporter of palm oil, had actually planned to launch the obligatory requirement of 40% palm oil fuel in biodiesel on Jan. 1, up from 35% now.<br>
<br>"The ministerial regulation has been signed," the minister Bahlil Lahadalia told press reporters, adding the government was working to increase the necessary biodiesel mix to 50% next year.<br>
<br>Eniya Listiani Dewi, a ministry senior official, said biodiesel producers and [fuel merchants](https://stocktwits.com/symbol/MNEL) will be [offered](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) till Feb. 28 to adjust to the B40 mix. She stated the hold-up was since of technical challenges connected to subsidies for the fuel.<br>
<br>The [non-implementation](https://www.bloomberg.com/profile/company/MNELF:US) on Jan. 1. had resulted in a 2.6% drop in the Malaysian palm oil standard contract on Thursday. On Friday, it recovered by around 1%.<br>
<br>Fuel sellers and [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) producers had said they were not able to prepare agreements for [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) distribution without the decree.<br>
<br>The biodiesel allocation for 2025 showed an increase from 2024's approximated biodiesel consumption of 12.98 KL, ministry information showed on Friday.<br>
<br>Of the total allowance for this year, 7.55 million KL is for the [public service](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) obligation (PSO), which [covers sectors](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) such as public transport, whose sales will be subsidised by the nation's palm oil fund.<br>
<br>"The staying allocations will be cost market price. The non-PSO allowance is set at 8.07 million KL," Bahlil stated, including the fund could not [subsidise](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) the price space between the [palm oil](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and nonrenewable fuel sources for the total allotment.<br>
<br>BPDPKS, the company in charge of gathering and managing the palm oil funds, approximated in November B40 would need a 68% aid increase.<br>
<br>To help finance that, Indonesia plans to increase its [export levy](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) for crude palm oil (CPO) to 10% from the present 7.5%, however for that to take place, another [official regulation](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) is needed. (Reporting by Bernadette Christina Munthe, Fransiska Nangoy, Dewi Kurniawati