Indonesia to adjust coal price policy
Indonesia will implement a new policy on coal export pricing starting March 1 to strengthen state control over international coal sales, according to its Ministry of Energy and Mineral Resources.
Indonesia will use its benchmark coal price for transactions from March 1, 2025. Photo courtesy of The Investsor.
Under the new rules, all Indonesian coal exporters must use a government-set minimum benchmark price for their transactions. This price will be updated twice a month, on the first and 15th. Companies failing to comply may face fines or export licence revocation.
Currently, Indonesia applies a monthly benchmark price (HCA) mainly for tax calculations. Long-term contracts can maintain their agreed prices, but the government encourages adjustments if contract terms allow.
In February 2025, the HCA price was set at $34.38 per ton for low-calorific coal and $124.24 for high-calorific coal. Meanwhile, domestic market obligations (DMO) require coal sales to power plants at $70 per ton and select industries at $90.
This policy reflects Indonesia’s ambition to influence global coal prices, rather than merely reacting to international market trends. In 2024, the country produced 831.05 million tonnes of coal, with 434.11 million tonnes exported.
Vietnam, a key importer of Indonesian coal, imported $2.49 billion worth in 2024. Coal remains Vietnam’s largest import from Indonesia, contributing significantly to the $4.34 billion in total imports from the country.
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