Indonesia’s coal reference price down 2.97 percent
Stefanno Reinard Sulaiman
The Jakarta Post
The government has set the Indonesian coal reference price for November at US$97.90 per ton, 2.97 percent lower than the price in the previous month, which was set at $100.89 per ton as a result of the global coal price, in response to China's ongoing import quota policy.
Energy and Mineral Resources Ministry spokesperson Agung Pribadi said the coal price decline was also sparked by the distribution issue in Australia and oversupply in Indonesia.
“The delay in coal distribution in Australia affected the ICE Newcastle index. There is also an oversupply in in our country as a result of slowing demand from India and China,” he told press on Monday.
This year, the government targets national coal production of 485 million tons, 25 percent of which is for the domestic market obligation, which is equal to 121.25 million tons.
Data from the Energy and Mineral Resources Ministry up to September show that coal production had reached 70.9 percent of the annual total target, or equivalent to 344 million tons.
The government continued its policy to cap the coal price for electricity purposes at $70 per ton, aiming to maintain the electricity price at an affordable level. (bbn)
- North Sumatra's regent nabbed in antigraft operation
- 'Waria' told to leave their home in Jakarta amid anti-LGBT campaign
- Indonesia's latest economic stimulus package: What you need to know
- 22 migrants missing off Morocco after boat capsizes
- 'Moral panic' targets Indonesia's LGBT community
- Boeing ‘confident’ in 737 MAX safety despite aircraft flaw
- Christian school rumor leads to closure of vocational academy in Batam
- Republican urges conservatives to run against Trump in 2020
- Trump says doesn't want to hear 'suffering' Khashoggi tape
- Govt looks to private employees to fill public jobs after 90 percent of applican...