ID :
34272
Sat, 12/06/2008 - 18:01
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http://m.oananews.org//node/34272
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THREE MORE COMPANIES OFFICIALLY RECOGNIZED AS TIN EXPORTER
Jakarta, Dec 6 (ANTARA) - The Trade Ministry has granted the status of "officially registered tin exporter" (ET-Timah) to three more companies bringing the total number of firms authorized to export the commodity to 17, a senior trade official said.
"There are three more companies which have received recognition as tin ingot exporter (ET)," Hartojo Agus Tjahjo, director of mineral and industrial product export affairs at the trade ministry, said here recently.
The three newly registered tin exporter companies were PT Alam Lestari Kencana, CV Makmur Jaya and PT Fang Di Multindo in Bangka Belitung province.
The three companies were recognized as tin ingot exporters since they secured their tin export licenses on November 21, 2008.
The increase in the number ET Timah exporters was expected to help improve the country's tin ingot export performance which fell steeply by 59.64 percent in October 2008.
Tin exports were recorded at 11,000.55 tons in September but they fell to 4,439.39 tons in October.
Tjahjo said the decline in tin exports was due to the fact that exporters were still waiting for the improvement of the tin export market.
The price of tin ingots had continued to drop from 23,000 US dollars per metric ton to 18,000 US dollars per metric ton.
The price happened to sky-rocket after the government issued a regulation on tin export in February 2007.
Before the policy was issued the price of tin per metric ton was only 9,000 US dollars.
The regulation does not restrict exports but stipulates that only authorized exporters can engage in the trade. Tin intended for export must have a 99.85 tin content and this had to be verified before the commodity was shipped.
The value of Indonesia's tin ingot exports in October 2008 stood at 64,222,053.60 US dollars while in the January - October 2008 Indonesia's tin ingot exports were recorded at 79,974,84 tons worth 1,514,994,787.73 US dollars.
"There are three more companies which have received recognition as tin ingot exporter (ET)," Hartojo Agus Tjahjo, director of mineral and industrial product export affairs at the trade ministry, said here recently.
The three newly registered tin exporter companies were PT Alam Lestari Kencana, CV Makmur Jaya and PT Fang Di Multindo in Bangka Belitung province.
The three companies were recognized as tin ingot exporters since they secured their tin export licenses on November 21, 2008.
The increase in the number ET Timah exporters was expected to help improve the country's tin ingot export performance which fell steeply by 59.64 percent in October 2008.
Tin exports were recorded at 11,000.55 tons in September but they fell to 4,439.39 tons in October.
Tjahjo said the decline in tin exports was due to the fact that exporters were still waiting for the improvement of the tin export market.
The price of tin ingots had continued to drop from 23,000 US dollars per metric ton to 18,000 US dollars per metric ton.
The price happened to sky-rocket after the government issued a regulation on tin export in February 2007.
Before the policy was issued the price of tin per metric ton was only 9,000 US dollars.
The regulation does not restrict exports but stipulates that only authorized exporters can engage in the trade. Tin intended for export must have a 99.85 tin content and this had to be verified before the commodity was shipped.
The value of Indonesia's tin ingot exports in October 2008 stood at 64,222,053.60 US dollars while in the January - October 2008 Indonesia's tin ingot exports were recorded at 79,974,84 tons worth 1,514,994,787.73 US dollars.
