Indonesia: Reference price of cocoa beans in January 2021

The most recent data released by the Ministry of Trade has indicated that the reference price for cocoa beans for January 2021 has been set at USD 2300/MT, which is a slight increase from its closing price in December 2020 at USD 2280/MT or around 0.86% increase from last month. This slight increase is considered to be caused by the possible increase in demand as the business cycle would return to normal after the long break. Despite the price change, the export fee of cocoa beans remains unchanged at 5%.