MEMR sets July reference price for biodiesel at Rp6,970/liter
Saturday, June 29 2019 - 03:11 AM WIB
The Directorate General for New, Renewable Energy and Energy Conservation (EBTKE) at the Ministry of Energy and Mineral Resources (MEMR) has set biodiesel reference price (HIP BBN) for July 2019 at Rp6,970 per liter and bio-ethanol at Rp10,255 per liter.
HIP BBN is set as reference price for the government agencies to purchase biodiesel from producers as an implementation of the B-20 program.
The reference price applies from July 1, 2019, the Head of Communication and Public Information Bureau of the MEMR Agung Pribadi said on Friday (28/6).
The July biodiesel reference price was lower compared to July’s price at Rp6,977 per liter. The decline was in line with the average price of CPO set by Kharisma Pemasaran Bersama for the period of May 15-June 14, 2019, which stands at Rp6,573 per kg.
The biodiesel reference price is set based on certain formula that takes into account the CPO price as well as the rupiah exchange rate.
Editing by Roffie Kurniawan