Jakarta (ANTARA News) - The use of a 50 percent biodiesel blend (B50) will enable Indonesia to save foreign exchange earnings, Vice Chairman of the National Economic and Industrial Committee (KEIN) Arif Budimanta stated.

"This is part of the National Energy General Plan (RUEN) in accordance with the president`s directives. If we use B50, there will be three main benefits, one of them being saving foreign exchange earnings," KEIN vice chairman remarked here on Wednesday.

He also believed that the use of B50 will improve the country`s current account in the oil and gas sector and boost growth of the domestic biodiesel processing industry.

Indonesia`s trade deficit suffered a post-reform high of US$8.57 billion last year. The figure fell sharply from that of the previous year when the country recorded a trade surplus of $11.84 billion.

According to the Central Statistics Agency (BPS), the deficit was mostly contributed by an oil and gas trade deficit of $12.4 billion.

Budimanta further noted that the use of B50 will also increase the added value of crude palm oil that could be produced into various products of high value.

The use of B50 needs consistency and commitment on the part of various parties.

"We need commitment not only from the government but also from palm oil suppliers, automotive industry, and research institutes. If they can cooperate, that will be good," he added.

Source: https://en.antaranews.com/news/122084/use-of-b50-fuels-expected-to-save-foreign-exchange-earnings