Indonesia’s government needs to fork out $1.75B to fill funding gap for B35 program
In Indonesia, the Jakarta Post newspaper reports the Oil Palm Plantation Fund Management Agency says rising prices and export costs for crude palm oil (CPO) will leave the fund $1.75 billion short to subsidize the country’s B35 program. The 55% hole in revenue is a result of significantly lower exports, exports which has a levy applied to them that would typically offset the cost of the subsidy required to keep B35 prices as the level required to ensure demand at the pump.
Category: Fuels
