Indonesia’s Ministry of Trade sets gold export benchmark price for 15–30 September

Indonesia’s Ministry of Trade (Kemendag) announced on 15 September 2026 the gold export benchmark price (Harga Patokan Ekspor, HPE) and reference price (Harga Referensi, HR) for 15 to 30 September, the second of the month’s two periods. Minister of Trade Decree No. 1817 of 2026, signed on 14 September, fixes the HPE at US$144,469.49 per kilogram and the HR at US$4,493.51 per troy ounce, administrative figures used in the export duty on gold. Kemendag bases the two figures on data and technical input from the Ministry of Energy and Mineral Resources (ESDM) referring to London Bullion Market Association (LBMA) publications, in coordination with the Coordinating Ministry for Economic Affairs, the Ministry of Finance, the Ministry of Industry and ESDM. At 32.1507 troy ounces to the kilogram, the HPE is the HR restated per kilogram.

Minister of Finance Regulation (PMK) 80/2025, in force since 23 December 2025, and Minister of Finance Decision 66/MK/BC/2026, signed on 14 September by the Director General of Customs and Excise, carry the two figures into the duty in this order:

  1. The HR selects the rate column. PMK 80/2025 applies column 1 of its annex to an HR from US$2,800 to below US$3,200 per troy ounce and column 2 from US$3,200, so column 2 governs exports from 15 to 30 September.
  2. The product line sets the rate within column 2: 15% for doré, 12.5% for non-doré granules and other unwrought forms, 10% for non-doré lumps, ingots and cast bars, and 10% for minted bars under ex 7115.90.10. The annex lists doré under ex 7108.12.10 and ex 7108.12.90, the same subheadings as non-doré granules and cast bars, so a doré bar and a cast bar declared under 7108.12.10 carry 15% and 10% respectively.
  3. The HPE becomes the export price. PMK 80/2025 has the Director General of Customs and Excise set the export price in accordance with the HPE, and Decision 66/MK/BC/2026 lists all four product lines, doré included, against one export price per kilogram equal to the HPE.
  4. Article 5 of PMK 80/2025 computes the duty as the rate multiplied by the quantity, the export price per unit and the exchange rate. From 15 to 30 September each kilogram of cast bars carries duty of 10% of the HPE before the exchange rate, whatever the contract price.
  5. Decision 66/MK/BC/2026 keeps its export price as the basis for the duty after 30 September until a new export price is set.