KONTAN.CO.ID - JAKARTA. Indonesia spent more on biodiesel subsidies than funds it collected through export levies this year, Eddy Abdurrachman, president director of the country's Estate Crop Fund (BPDP) said on Thursday. BPDP, the government body in charge of subsidising Indonesia's palm oil programmes, estimated 17-18 trillion rupiah had been raised from levies this year, while 25.7 trillion rupiah ($1.82 billion) had been spent subsidising the price difference between crude oil and palm oil, he said. "In 2020... crude oil price tended to go down, while crude palm oil trend is going up, so that there's this price gap that BPDP should bear," he told a virtual conference.
Indonesia spent more on biodiesel subsidies than funds collected in 2020
KONTAN.CO.ID - JAKARTA. Indonesia spent more on biodiesel subsidies than funds it collected through export levies this year, Eddy Abdurrachman, president director of the country's Estate Crop Fund (BPDP) said on Thursday. BPDP, the government body in charge of subsidising Indonesia's palm oil programmes, estimated 17-18 trillion rupiah had been raised from levies this year, while 25.7 trillion rupiah ($1.82 billion) had been spent subsidising the price difference between crude oil and palm oil, he said. "In 2020... crude oil price tended to go down, while crude palm oil trend is going up, so that there's this price gap that BPDP should bear," he told a virtual conference.