JAKARTA Indonesian president-elect Prabowo Subianto hopes to implement mandatory 50% palm oil-based biodiesel blending (B50) by early next year, which he said would cut fuel imports by US$20 billion per year.

Indonesia last week said it plans to raise the blending to 40% in January 2025, from the present 35% concentration, in an effort to reduce fuel imports and lower emissions from fossil fuels.

Prabowo takes over in October from incumbent Joko Widodo, whose administration has ordered the palm oil industry to prepare for B50. Tests have already started on the higher blending preparation.

"We are at B35 now, and we will accelerate to B40, B50," Prabowo said late on Saturday.

"With B50, 50% biodiesel made of palm oil, once we reach B50, that God willing by end of this year or early next year, we will save US$20 billion a year. We do not need to send this money overseas."

Previous tests to increase the palm oil blend have typically taken about a year, with lab and road tests conducted.

  - Reuters