Coal Starts Buyers, Exports Of The Republic Of Indonesia Longsor 700,000 Tons In A Month

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JAKARTA - The Central Statistics Agency (BPS) reported that Indonesia's coal export decline in August 2022. It was stated that the delivery of 'black gold' abroad last month only reached a volume of 32.8 million tons.

The score is about 700,000 tons lower when compared to the July 2022 period, which at that time managed to export 33.5 million tons.

In fact, there has been a downward trend in coal prices from the previous 306.4 US dollars per metric ton in July to 290 US dollars per metric ton in August.

"The value of coal exports has decreased due to a decrease in volume," said Deputy for Distribution and Services at BPS Setianto when speaking to reporters on Thursday, September 15.

However, the current range of coal prices remains at a high level, which is around 300 US dollars per metric ton. In fact, this commodity had touched the highest level of 400 US dollars per metric ton some time ago.

Meanwhile, prices at the beginning of the 2020 pandemic had fallen in the range of 50 US dollars per metric ton. To note, the spike in coal prices was caused by the recovery of the business world which caused the demand for energy to increase.

In addition, geopolitical factors also play an important role because there is a shift in energy source needs in Europe due to difficulty getting access to cheap gas.