ID :
70620
Thu, 07/16/2009 - 10:24
Auther :
Shortlink :
https://www.oananews.org//node/70620
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INDONESIAN TIN BAR EXPORTS DOWN 12.3 PCT IN JUNE
Jakarta, July 15 (ANTARA) - The volume of Indonesia's exports of tin bars dropped by around 12.3 percent in June 2009 to 8,661.28 tons from 9,873.03 tons.
"World production is declining and so demand for raw materials such as tin in bars has also dropped," the director of exports of industrial and mining products of the directorate of foreign trade, Albert Yusuf Tobagu, said here on Wednesday.
In terms of value the exports of tin rose to US$123.104 million from US$122.88 million in May.
Tin exports in bars from January to June, 2009 reached 50,575.2 tons worth US$562.64 million. In 2008 tin exports in bars totalled 88,161.72 tons worth US$1.621 billino.
Indonesia's tin exports so far went to 10 countries namely Singapore, Malaysia, China, Japan, Taiwan, South Korea, Thailand, the Netherlands, India and Hong Kong.
Since February 2007 the Indonesian government issued a regulation requiring tin exports in bars to boost foreign exchange earnings and improve the country's image as the world's third biggest tin exporter.
The regulation is also aimed at preventing uncontrolled tin mining and also at increasing state income from royalties.
Although it tightens control the regulation does not limit exports. The trade minister regulation number 04 of 2007 also sets conditions for exports such as regarding purity which must be minimally 99.85 percent and diversification obligations.
Under the regulation exports could only be done by registered exporters. There are 30 registered exporters until June 2009 while one exporter is now still processing its registration.
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"World production is declining and so demand for raw materials such as tin in bars has also dropped," the director of exports of industrial and mining products of the directorate of foreign trade, Albert Yusuf Tobagu, said here on Wednesday.
In terms of value the exports of tin rose to US$123.104 million from US$122.88 million in May.
Tin exports in bars from January to June, 2009 reached 50,575.2 tons worth US$562.64 million. In 2008 tin exports in bars totalled 88,161.72 tons worth US$1.621 billino.
Indonesia's tin exports so far went to 10 countries namely Singapore, Malaysia, China, Japan, Taiwan, South Korea, Thailand, the Netherlands, India and Hong Kong.
Since February 2007 the Indonesian government issued a regulation requiring tin exports in bars to boost foreign exchange earnings and improve the country's image as the world's third biggest tin exporter.
The regulation is also aimed at preventing uncontrolled tin mining and also at increasing state income from royalties.
Although it tightens control the regulation does not limit exports. The trade minister regulation number 04 of 2007 also sets conditions for exports such as regarding purity which must be minimally 99.85 percent and diversification obligations.
Under the regulation exports could only be done by registered exporters. There are 30 registered exporters until June 2009 while one exporter is now still processing its registration.
***2***
