UPDATE 3-Indonesia biofuel sector faces price formula delay


* Biodiesel firms squeezed by higher palm oil prices * Indonesia awaits presidential decree for price formula * Biofuel producers call for higher subsidies for 2010 (Adds producer quotes, details) By Fitri Wulandari JAKARTA, May 27 (Reuters) - Indonesia, the world's top palm oil producer, is not ready to implement a price formula for biofuel slated for June, an energy ministry official said on Wednesday, dealing a blow to the fledgling biodiesel industry. Indonesian biodiesel ...

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