JAKARTA - The absence of a reference price of tin in the country makes Indonesia not gain more than the resources owned tin. In fact, RI is the second largest producer of tin, which accounts for 26 percent of the world's tin production.
The latest data shows the average production of tin RI currently reaches 90 thousand metric tons. The number is estimated to be able to control 70 percent market share in Asia.
Head of Commodity Futures Trading Supervisory Agency (Bappeti) Bachrul Chairi said this position is actually very strategic to increase state revenues. However, so far, the determination of world tin prices dominated London Metal Exchange (LME) in London, England.
"This is certainly detrimental to Indonesia as a producer because that determines the price is a country that does not have tin products," he said in the event Indonesia Tin Conference and Exhibition in Jakarta, Thursday (18/8).
Indonesia has only a commodity futures market for tin in the last three years. Although the transaction value is still small, commodity exchanges under the name Indonesia Commodity Derivatives Exchange (ICDX) gradually become the reference of world tin price. With this condition Indonesia not only as price takertetapi higher is the price maker.
Based on transaction data, ICDX trades 18 thousand metric tons of tin or alumina. The amount increased to 54 thousand metric tons in 2014 and 70 thousand metric tons in 2015. The last trading data in January-July that is 32,600 metric tons. There are currently 63 companies listed on ICDX with 34 sellers and 29 buyers who trade bargains on ICDX exchanges.
CEO of ICDX, Megain Widjaja, although not yet dominant in determining tin price, the existence of commodity exchanges to make the price of tin produced is no longer fluctuating because following the benchmark foreign exchange market.
This is very different from before the tin commodity market where RI has no influence to determine the price despite being one of the largest producers. Before the ICDF there was very high price votalites that reached 25-30 percent but now more stable at 15 percent.
Meanwhile, the government and the private sector will open a tin logistics center or Bonded Logistics Center (PBL). It follows the losses suffered by the state due to the absence of a tin logistics center. If the calculated totoal loss reached 16 million US dollars or equivalent to 209.90 billion rupiah per year. That's because domestic tin is stored in other countries that have a PBL like Singapore.
ILB President Director Henry Chandra said that his side has set up a bonded logistics area called ILB for tin storage. Furthermore, tin produced domestically will be sold through the ICDX commodity exchanges and the goods are stored at the established ILB. Ers / E-10.
© newspaper-jakarta.com