Dinda Audriene, CNN Indonesia
Thursday, 18/08/2016 15:17 WIB
Jakarta, CNN Indonesia — Directorate General of Customs and Excise Ministry of Finance (DJBC Kemenkeu) stated that Indonesia will have the first tin logistics center in October 2016.
The government is still finalizing a number of rules as a legal umbrella for the establishment of the Indonesian Commodity and Derivatives Exchange ICDX Bonded Logistics (ILB). Section Head of Bonded Logistics Center (PLB) Directorate of DJBC Customs Facility Dorothea Sigit hopes the ILB regulation can be published according to target. ILB's own government itself already has a warehouse with all equipment and surveillance cameras.
"October 2016 rules are all complete so the ILB can operate," Dorothea said, Thursday (18/8) .ILB itself was built on a land area of 15,141 square meters in Marunda, North Jakarta with a warehouse area of 1200 square meters. ICDX President Director Megain Widjaja as the manager of ILB stated that tin became the initial commodity prepared by ILB by the government. He mentioned later will also be built warehouses for other commodities.
"This is an early stage, this is to accommodate tin. Later in the future can be developed for other commodities, "said Megain.
For tin alone, continued Megain, Indonesia is the second country that produces the most tin in the world. However, Indonesia has not been dominant in determining the price of tin. He hopes that the entry of tin as a commodity that can be traded in the futures exchange can make the price of tin in the country does not fluctuate.
"Indonesia produces 70 percent of tin but has no share in price determination. But the volatility of tin prices is now more stable, about 15 percent volatility, "he said.
The same thing was also revealed by the Head of Commodity Futures Trading Supervisory Agency (Bappebti) Ministry of Trade Bachrul Chairi. According to him, the price of tin is more determined by other countries whose tin production is nothing compared to Indonesia.
"Indonesia accounts for 26 percent of the world's tin production. For exports even 70 percent of the world is controlled, "explained Bachrul.
He said the ICDX transaction in 2013 traded 18 thousand tons of tin, then increased to 54 thousand tons in 2014. This increase continues to occur in 2015 to 70 thousand tons. Meanwhile, for the first half of 2016 ICDX has traded 32,600 tons of tin. (Genes)
© CNNIndonesia.com