Industry Segment: Market Brief | Word Count: 100 Words

Indonesia is hoping to ramp up the domestic production of biofuels as there is an ongoing study about a new chemical catalyst that could accelerate the chemical conversion of palm oils to become biofuels. The state-owned energy company of Indonesia, Pertamina, has given its support in the development of this substance, which they named Red and White Catalyst. And with the Indonesian government's B-30 policy, which mandates the use of 30% biodiesel content in fuel, it is expected that the new biofuels would serve as catalyst in lowering oil imports while increasing the market for crude palm oil.