Ministry Of Trade: The Price Of Cocoa Seeds Increases December 2023 In The European Market

Kakao illustration (ANTARA)

MIMIKA - The Ministry of Trade (Kemendag) revealed that the reference price of cocoa beans for the December 2023 period was set at 3,950.62 dollars per metric tonne (MT), or an increase of 426.06 dollars or 12.09 percent from the previous month. Director General of Foreign Trade of the Ministry of Trade Budi Santoso said this had an impact on increasing the Export Patokan Price (HPE) of cocoa beans in December 2023 to 3,627 US dollars per MT, up 415 US dollars or 12.93 percent from the previous period. "The increase in reference prices and HPE cocoa beans are influenced, among others, by increasing demand from the European Union and the United States which was not offset by supplies of cocoa beans that declined from Ivory Coast and Ghana as the main producer state," Budi said in a written statement received in Mimika, Central Papua, Saturday. Furthermore, bad weather and weakening of US dollars towards poundsterling are also said to affect the price of cocoa seed export benchmarks. However, this increase in price has no impact on the determination of cocoa beans duties (BK), which remains at 15 percent in accordance with the 4 Collection Letter B in the Regulation of the Minister of Finance Number 39/PMK/0.10/2022 jo. Number 71 of 2023.

On the other hand, HPE skin products for the period December 2023 did not change from the previous month. Meanwhile, HPE wood products for the period December 2023 experienced an increase in several types of wood, namely Veneers from forest plants and sawwood with a cross section area of 1,000 mm2 to 4.000 mm2 of other types of ebony and teak type. Meanwhile, HPE wood Veneer from forest plants of the Wooden Sheet for Packing Box type, wood in the form of pieces or fractions (wood in chips or particles), as well as sawwood with a cross section area of 1,000 mm2 to 2.000 mm2 of meranti type, urge, mixed jungles, forests of pine and gemelina types, acasia, balgon, balsa, eucalyptus and others experienced a decline. Determination of HPE cocoa beans, HPE for skin products, and HPE for wood products is listed in the Decree of the Minister of Trade Number 1964 of 2023 concerning Export Patokan Prices and Reference Prices for Products of Agriculture and Forestry Entitled by Customs Exit.