Indonesia exploring higher palm oil levy to offset rising biofuel prices

February 26, 2020 |

In Indonesia, Reuters reports that the government plans to raise its levy on palm oil exports to support biodiesel blending but the country’s chief economic minister said whether the increase will be a flat increase or a progressive one was still being evaluated. Currently levies are set at a maximum of $50 per metric ton but biodiesel prices jumped to 4.5-year highs of $0.6877 per liter this month, forcing the government to look for more funds to subsidize costs for drivers.

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Category: Fuels

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