Danantara to continue honouring existing SDA export contracts
Jakarta (ANTARA) - Chief Investment Officer (CIO) Danantara, Pandu Sjahrir, said the company will continue to honour long-term contracts for natural resource commodities (SDA) that were already agreed between exporters and buyers.
As part of efforts to safeguard the smooth continuity of contracts, the government is engaging in dialogue with industry players and related associations.
“Now we do not want to disrupt anything with respect to existing contracts; we want everything to run smoothly and well,” Pandu said at the Coordinating Ministry for Economic Affairs in Jakarta on Thursday.
The government is currently taking in a range of inputs from industry, including through a meeting with SDA sector associations scheduled to take place at the office of the Coordinating Ministry for Economic Affairs at 16:00 WIB.
“We will, everyone, we are also receiving input from the industry, we will meet the associations as well later, and meet players in the next two days, so it should be okay,” he said.
The commodities in question are palm oil (CPO), coal, and ferroalloys.
Meanwhile, Danantara’s Chief Executive Officer (CEO), Rosan Roeslani, also confirmed that the government will continue to honour long-term contracts already agreed between exporters and buyers.
“No, (contracts will not be terminated); we will honour all existing contracts,” he said.
However, he noted that the government will still evaluate contracts that appear not to reflect global market prices or that involve under-invoicing.
In many long-term contracts, the commodity price is not fixed at signing but follows price movements when shipments begin.
Therefore, evaluations will continue if indications of selling below actual prices are found.
Earlier, Energy and Mineral Resources Minister Bahlil Lahadalia said the government Regulation (PP) on the Tata Kelola Ekspor Komoditas Sumber Daya Alam (SDA) does not disrupt coal export contracts through the end of 2026.
“There is nothing to worry about. There are contracts that have already been one year old. Just carry on. The Tata Kelola Ekspor SDA regulation does not mean exporters will immediately sell to Danantara from now on,” Bahlil said at IPA Convex, in Tangerang, Banten, on Wednesday (May 20).
Bahlil said that with the issuance of the PP on Tata Kelola Ekspor Komoditas Sumber Daya Alam, coal exporters are not automatically required to sell their commodities through the BUMN designated by Danantara.
There is a transition period for implementing the regulation. Starting this year, said Bahlil, SDA exporters will transition with the BUMN to be designated.
After the BUMN is appointed, SDA exporters will consolidate and reconcile their transactions.