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New Formula For Biodiesel Index Price May Be Put On Hold

The government may have to wait another six months before imposing a new formula for the Biodiesel index price and progressive levy, a scenario that would force them to maintain a quota of 1.53 million kiloliters of subsidized Biodiesel from May to October this year. Under the new formula, the government would lower the cost of converting Crude Palm Oil (CPO) into fatty acid methyl ester (FAME) – which is used to produce Biodiesel – to USS100 dollar per ton from the previous S125 per ton. (THE JAKARTA POST)