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Jakarta Post

January’s coal reference price down 0.1 percent

  • Stefanno Reinard Sulaiman

    The Jakarta Post

Jakarta   /   Fri, January 4, 2019   /   09:39 am
January’s coal reference price down 0.1 percent A bulk freighter carrying coal cruises through the Musi River in Palembang, South Sumatra, on Jan. 3. (Antara/Nova Wahyudi)

The government revised down the Indonesian coal reference price to US$92.41 per ton in January, 0.1 percent lower than the price in the previous month, which was $92.51 per ton.

Energy and Mineral Resources Ministry spokesperson Agung Pribadi said the revision was in response to China's new coal import quota policy. “The policy has led to lower coal consumption in China,” he told press on Thursday.

The government targets annual coal production of 485 million tons this year, 25 percent of which is for the domestic market obligation (DMO), equal to 121.25 million tons, which will mostly be used to fuel power plants.

Data from the Energy and Mineral Resources Ministry up to Dec. 27 show that coal production had reached 94.02 percent of the annual total target, or equivalent to 344 million tons.

Agung said the DMO had reached 105 million tons up to the end of November. “We estimated to reach 115 million tons by year-end,” he said recently. This means that the amount of coal export in the first 11 months reached 336 million tons. (bbn)