Indonesian government elevated benchmark price for several types of crude palm oil and mining products, said the government official today - Photo: Special

JAKARTA (TheInsiderStories) – Indonesian government elevated benchmark price for several types of crude palm oil and mining products, said the government official today. The trade ministry reported the export levy for crude palm oil (CPO) products for July is US$622.47 per metric ton (MT) of CPO. The reference price increased by 9.41 percent compared to June which was $568.94 a MT of CPO.

“At the moment the CPO price is below $750 per MT of Coal. To that, the government wearing a zero export levy for July,” said acting director general at the trade ministry, Srie Agustina, in a statement.

While, the reference price of cocoa beans down 0.98 percent to $2,369.22 a MT from the previous month at $2,392.59 per MT. This has an impact on the decline of cocoa beans export levy in July to $2,085 a MT, or down 1.1 percent from the previous period at $2,108 per MT. She noted, the decline in reference prices and export benchmark price of cocoa beans was due to the weakening of international prices.

There are no change on the export levy and reference prices for wood and leather products. She revealed, until the end of June, prices for a number of mining products shows a positive trend amid the COVID-19 pandemic.

Compared to the previous period, copper concentrate (Cu≥15 percent) have an average price $2,474.35/WE or increase by 4.31 percent, iron concentrates (hematite, magnetite) (Fe≥62 percent and ≤1 percent TiO2) with an average price of $85.46/WE or up 18.48 percent, laterite iron concentrate (gutite, hematite, magnetite) with levels (Fe≥50 percent and (Al2O3 + SiO2)≥10 percent) with an average price $43.67/WE or increase 18.48 percent.

Then, manganese concentrate (Mn n 49%) with an average price $291.34/WE or increased 17.17 percent, lead concentrate (Pb≥56 p) with an average price $698.50/WE or an increase of 5.13 percent, zinc concentrate (Zn≥51 percent) with an average price $475.73/WE or jumped by 3.24 percent, iron sand concentrate (magnetite-ilmenite lamela) (Fe≥56 percent) with an average price of $51.03/WE or an increase of 18.84 percent, and washed Bauxite (Al2O3≥42 percent) with an average price of $20.74/WE or rose by 6.10 percent.

Only ilmenite concentrate (TiO2≥45 percent) down 1.56 percent to $260.92/WE and rutile concentrate (TiO2≥90 percent) with an average price of $916.31/WE or decreased by 2.47 percent. While, iron sand concentrate (lamela magnetite-ilmenite) pellets (Fe≥54 percent) with an average price $117.98/WE did not change.

According to Agustina, the determination of the benchmark prices for the July 2020 period was determined after mempay attention to variety written input and coordination from various related agencies.

Written by Staff Editor, Email: theinsiderstories@gmail.com