JAKARTA, KOMPAS.com -commodity futures trading industry in Indonesia has great potential to become a world reference prices, considering Indonesia as the world's premier manufacturer and supplier of a number of commodities such as crude palm oil (CPO), rubber, pepper, coffee, gold and Tin. But the potential has not been fully developed optimal, because there are still many commodity export mainstay that has not been the subject of a futures contract on the futures exchanges.
"At the moment we are seeing a lot of commodity exports of Indonesia traded on futures exchanges abroad. Therefore, we expect the Futures Exchange in Indonesia can be hard at work creating the subject of a futures contract for a price that would be created on the Exchange can be a reference price in and outside the country, "explained Deputy Minister Bayu Krisnamurthi, Trading Friday (16/11/2012).
The development of commodity futures trading industry in the country is urgently needed as a means of hedging and commodity price formation. This is in line with the development of downstream from a number of potential of the commodity in the country.
More Wamendag said, thanks to the Government's policy to develop downstream from a number of potential export commodities, Indonesia is already bearing fruit. Proven commodity exports of CPO and cocoa processed rose sharply in the period January-August 2012. Export of products of processed commodities cocoa increased by approximately 34.4 percent or reached 133.900 tonnes, with export value amounting to 328 million US dollars. While the processed products commodity CPO reached 8.6 million tons or increased 8.8 percent to the value of 48,82 billion US dollars.
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