The Minister of Finance has stipulated export prices for several commodities for the period between 1 April 2021 and 30 April 2021. The export price stipulation is outlined in the Minister of Finance Decree No. 11/KM.4/2021 concerning the Stipulation of Export Prices for the Calculation of Export Duties (MoF Decree 11/2021).

The export prices are required for the calculation of export duties of several commodities whose exports are subject to export duties. Through the decree signed on 31 March 2021, the Minister of Finance sets export prices for the calculation of export duties on three types of commodities.

First, export prices for the calculation of export duties on exported goods in the form of wood and leather. Details of export prices for wood and leather are listed in Annex A of MoF Decree 11/2021. Referring to the annex, export goods in the form of leather are segmented into three groups, i.e. hides and rawhides from animals, hides and pickled hides from animals, and tanned hides from animals.

In contrast, export goods in the form of wood are segmented into three groups, i.e. veneer, wood chips, and processed wood. The export price of veneer wood is set starting from USD400/m³ to USD800/m³ depending on the type. Furthermore, wood chips, both in the form of chips/shards and in the form of wood, are set at USD61/ton. Next, the export price of processed wood is set at USD300/m³ to USD3,500/m³, depending on the type.

Second, the export price for the calculation of export duties on exported goods in the form of cocoa beans. Details of export prices of cocoa beans are listed in Annex B of MoF Decree 11/2021. Referring to the annex, the export price of cocoa beans included under the HS Code 1801.00.00 is set at USD2,276/MT.

Third, the export prices for the calculation of export duties on exported goods in the form of metal mineral processing products and metal mineral products of certain criteria. Details of export prices of metal mineral processing products and metal mineral products of certain criteria are listed in Annex C of MoF Decree 11/2021.

In addition to stipulating export prices, MoF Decree 11/2021 sets forth that the reference price set by the minister of trade for two types of commodities. First, the reference price for palm oil, Crude Palm Oil (CPO), and its derivative products, as well as mixed products from CPO and its derivatives is USD1,093.83/MT. Second, the reference price for cocoa beans is set at USD2,565.00/MT.

The minister of finance, through this decree, also emphasizes the types of export goods subject to export duties and the amount of export duty tariffs as stated in Annex II of the Minister of Finance Regulation No. 166/PMK.010/2020 concerning the Second Amendment to the Minister of Finance Regulation No. 13/PMK.010/2017 concerning the Stipulation of Export Goods Subject to Export Duties and Export Duty Tariffs (MoF Reg. 166/2020).

MoF Decree 11/2021 comes into force from 1 March 2021 to 31 March 2021. However, in the event that the export prices set under MoF Decree 11/2021 have expired and the new export prices have not been stipulated, the export prices set under MoF Decree 11/2021 will remain in effect as the basis for calculating export duties until new export prices are set.