The Blessing of Exports and the Story of a Portion of Batagor
The happy ending story of foreign trade cannot be separated from the blessing of the commodity supercycle or the increase in the prices of a number of export commodities, such as crude palm oil (CPO) and coal.
CPO, for example. The World Bank said that the average global CPO price in January-October 2021 had reached 1,190 US dollars per tonne. This positive performance was also marked by the strengthening of exports of value-added and high-tech products, such as iron and steel, electronics and motor vehicles. This is the fruit of investment in recent years. The Central Statistics Agency (BPS) noted that Indonesia's trade balance in January-November 2021 was a surplus of 34.32 billion US dollars or Rp 492.42 trillion. The trade balance surplus is almost double the surplus in January-November 2020 which amounted to 19.52 billion US dollars. In January-November 2021, the total export value of oil and gas and non-oil and gas reached 209.16 billion US dollars, higher than imports which amounted to 174.84 billion US dollars. The export value of animal/vegetable fats and oils, including CPO, was 29.68 billion US dollars, grew 64.95 percent compared to the same period 2020. The Minister of Trade Muhammad Lutfi was of the opinion, amid rising prices for a number of global commodities, such as coal and CPO, Indonesia's exports were still dominated by these two commodities. However, Indonesia's exports in recent years are also of quality exports. But not for households, micro, small and medium enterprises (MSMEs), and small and medium industries (IKM). Since the last three months they have been hit by a spike in cooking oil prices.
|•SOURCE•| Articles :KOMPAS | Image :KOMPAS |
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