TEMPO.CO, Nusa Dua - By November 25, 2015, the Indonesian Oil Palm Estate Fund (BPDP) has pooled more than Rp 4 trillion (US$307.7 million) of CPO fund from CPO exports. BPDP head Bayu Krisnamurthi said that the figure was achieved within four months since the CPO Fund was started in July 16, 2015.
Bayu explained that about Rp 507 billion (US$36.2 million) would be used to subsidize 223,000 kiloliters of biofuel. Bayu added that biofuel producers had billed BPDP with Rp 285 billion (22 million) for the biofuel subsidy.
"It's still being processed," Bayu said during a press conference at the Indonesian Palm Oil Conference (IPOC) XI in Bali on Thursday, November 26, 2015.
Bayu said that the BPDP had set a target to pool Rp 9.6 trillion (US$738.5 million) of CPO Fund within a year, starting from July this year. However, Bayu said that the target could be revised due to El Nino, forest fires and lower downstream product exports.
"The figure will certainly be affected. It will be evaluated once in three months. We'll take a look at the figure again early next year," Bayu said.
ALI HIDAYAT
