Indonesia to continue subsidizing biodiesel despite slashing palm oil export levy

December 26, 2018 |

In Indonesia, the Jakarta Post reports that despite cutting the export levy on palm oil that was then used to subsidize biodiesel blending, the Indonesian Oil Palm Estate Fund will continue to subsidize in the meantime thanks to 40% higher revenues generated from the levy during 2018 than expected. The fund collected $992 million in 2018 through November. The levy was reduced in response to low palm oil prices but even so, the fund expects to generate around the same level of revenues in 2019 as in 2018 if palm oil prices stay steady.

 

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