Market News - 12-18 February 2017
“Export to China Surges” - Tempo - 17 February 2017
The Central Statistics Agency (BPS) said the national export market is changing. China is now Indonesia's largest export destination countries, taking over the United States' position. Exports to China totaled at US$1.55 billion (Rp20 trillion) which is about US$120 million higher compared to the export value to America. The Agency statistics also show that India's export has also soared to USD 1.32 billion. In addition that there ae some commodities and processed good to be improved such as fisheries, pal oil, rubber, and rattan.
“Indonesia Seeks to Re-energize Trade with Saudi Arabia” - The Jakarta Post - 17 February 2017
President Joko “Jokowi” Widodo is seeking help from the Saudi Arabian Consultative Assembly to improve the slowing bilateral trade and economic cooperation between the Middle Eastern country and Indonesia. Although Indonesia contributes greatly to Saudi’s national income trade and economic relations between the two countries are still weak. Bilateral trade and economic relations saw a significant drop of up to 36 percent in 2014 and 2015. The President had also asked the Majlis Asy-Syura to convince the Saudi government to materialize its investment plans and commitments in Indonesia.
“Depok: Price of Chili Peppers Keeps Soaring” - Kompas - 13 February 2017
The price of chilli peppers in Pasar Cisal, Depok keeps on rising. With IDR 160.000/kg, it went up around IDR 40.000, with last week at IDR 120.000/kg. With the consummers complaining on how high the price is, many vendors are confused on how to sell the much needed chilli peppers. The prices reaches an all time level high as this is the firsttime in 13 years that it price reach this high. Many hopes that the government can help with the inflation of pepper price as the quantity of sells drops 40% in these last few weeks.