Pertamina wants Indonesian parliament to cap palm oil prices to secure feedstock supplies

In Indonesia, Reuters reports that with Pertamina investing at least $600 million in one of its plants to produce biodiesel as well as in two others, it has asked the Parliament to cap palm oil prices on sufficient volume to cover its feedstock demand. The state-owned oil company wants to see a mandatory portion of planters’ palm oil production sold to it for biodiesel production at a capped price, saying that the national policy calls for ever-increasing biodiesel consumption and therefore the production should be secured as well.