Indonesia's November Biodiesel HIP Falls to IDR 14,312; Signed ESDM Letter Contradicts Webpage

Jakarta — Indonesia's biodiesel market index price (HIP) for November 2026 is IDR 14,312 per litre, excluding transport costs, effective 1 November. A signed letter from the Ministry of Energy and Mineral Resources' Directorate General of New, Renewable Energy and Energy Conservation (EBTKE), dated 26 October, sets that figure, down IDR 760, or 5.04%, from October's IDR 15,072. The ministry's announcement page, however, repeats the October amount and an October effective date beneath a November headline. This report follows the signed letter and its calculation annex, rather than treating the conflicting webpage text as a November determination.

A November letter, but October figures on the webpage

EBTKE letter B-3659/EK.05/DJE.B/2026 explicitly states a biodiesel HIP of IDR 14,312 per litre plus applicable transport costs, effective 1 November 2026. Its annex repeats IDR 14,312. By contrast, the EBTKE page headed “HIP BBN Jenis Biodiesel Bulan November 2026”, dated 2 November, says IDR 15,072 and effective 1 October in its body text. The page links to the November letter, allowing readers to compare the documents directly. The October figure had been reported by InfoSAWIT from EBTKE's previous determination. A subsequent correction or replacement decision, if issued, would warrant a fresh check.

How the November benchmark is calculated

The annex uses an average KPB crude palm oil (CPO) price of IDR 14,926 per kilogram for 25 September–24 October 2026 and an average Bank Indonesia middle exchange rate of IDR 17,942 per US dollar for the same period. The CPO-to-biodiesel conversion component is USD 85 per metric tonne. Its formula combines the average CPO price and conversion component, applies a factor of 870 kilograms per cubic metre, and adds transport costs under the applicable rule. The published IDR 14,312 figure is before those transport costs; it is not a retail pump price.

The letter cites ESDM Ministerial Decree No. 3.K/EK.05/DJE/2024 for the underlying pricing formula and Decree No. 290.K/EK.05/MEM.E/2025 for transport costs. The monthly HIP history carries a source for each recorded month. Biodiesel HIP is an input to the mandatory blending programme, not the price of subsidised biodiesel blend (Biosolar) sold at fuel stations.

Bioethanol and implications for funding

A separate signed EBTKE letter, B-3658/EK.05/DJE.B/2026, also dated 26 October, puts the November bioethanol HIP at IDR 11,955 per litre, effective 1 November. Its annex lists an average KPB molasses price of IDR 1,816 per kilogram and an exchange-rate reference of IDR 17,856 per US dollar. Bioethanol has a separate pricing formula and should not be confused with the biodiesel series.

The biodiesel change updates a procurement-price benchmark relevant to the B50 programme. But the letter does not report November delivery volumes or actual incentive payments. It alone cannot establish the change in the Plantation Fund Management Agency's (BPDP) total funding requirement, fresh fruit bunch prices, or the Biosolar pump price. Readers comparing the index with retail fuel prices should consult the price dashboard and distinguish the dates, products and units involved.