Indonesia biofuel industry seeks higher subsidies

Indonesian biofuel producers want authorities to allocate higher subsidies next year, in line with a surge in crude oil prices, the chairman of the industry association said on Wednesday.

Indonesia’s palm-based biodiesel firms, which have mostly stopped operations, have said they are awaiting for a new price formula and government subsidies in order to survive after being hit by rebounding palm oil prices
The government had planned to subsidise biofuel for transportation and a price formula had recently been agreed by the industry but these have yet to take effect despite the implementation of a mandatory biofuel policy since January.

Reuters