Indonesia Lowers Cocoa Reference Price Amid Rising Global Supply

KBRN, Jakarta: The Indonesian Ministry of Trade has announced adjustments to reference and export benchmark prices for several key commodities in January 2026, with cocoa beans recording a notable decline due to rising global supply.

Acting Director General of Foreign Trade at the Ministry of Trade, Tommy Andana, said the reference price (HR) for cocoa beans was set at USD 5,662.38 per metric ton, down USD 315.08 or 5.27 percent from the previous month. This also lowered the export benchmark price (HPE) for cocoa beans to USD 5,296 per metric ton, a decrease of USD 308 or 5.49 percent compared to December 2025.

“The drop in HR and HPE for cocoa beans was driven by increased supply from major producing countries in West Africa, where improved weather conditions boosted output without a corresponding rise in demand,” Tommy said in a statement in Jakarta on Thursday, January 1, 2026, as quoted by Antara.

He noted that other commodities showed mixed movements. The HPE for leather products in January 2026 remained unchanged, while pine resin rose by USD 27 or 3.24 percent from the previous month.

Wood products saw varied adjustments. Increases were recorded for veneer from natural and plantation forests, wooden sheets for packing boxes, and processed timber with cross-sectional areas of 1,000–4,000 mm² from species such as meranti, merbau, mixed tropical hardwoods, ebony assortments, and plantation species including pine, gemelina, acacia, sengon, rubber, balsa, eucalyptus, and others.

Processed teak wood in the same size category declined, while wood chips, particle board, processed timber from sungkai plantations (1,000–4,000 mm²), and specialized merbau timber (4,000–10,000 mm²) remained unchanged from December 2025.

The ministry confirmed that reference prices for crude palm oil (CPO), cocoa beans, leather products, wood products, and pine resin for the period January 1–31, 2026 are set under Trade Ministerial Decree No. 2392/2025, which regulates export benchmark prices and reference prices for agricultural and forestry products subject to export duties and public service agency tariffs.

Separately, the ministry stated that branded packaged cooking oil (Refined, Bleached, and Deodorized/RBD palm olein) with a net weight of ≤25 kilograms will continue to carry an export duty of USD 0 per metric ton. ***