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View all search resultsGovt will raise tin prices: President
The government is to issue policies to increase the prices of tin and two other commodities, namely rubber and palm oil, which have suffered drastic recent declines
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T
he government is to issue policies to increase the prices of tin and two other commodities, namely rubber and palm oil, which have suffered drastic recent declines.
'We want to see conditions in the field first, examine what policies need to be taken so that the prices of these commodities can increase again,' President Joko 'Jokowi' Widodo said as quoted by Antara on Sunday.
The President made the comments after performing the Tarawih prayer at Soeprapto Soeparno Mosques in Pangkalpinang on Saturday evening.
The prices of tin and other commodities, including rubber and palm oil, he said, had continued to decline.
'The tin price has declined from US$24 [per metric ton] to $14, or almost by half. That's why tin producers are struggling to cover their operational costs,' he said.
During his visit to Bangka Belitung, the President monitored the condition of tin businesses in the province.
'We will discuss the steep declines in the price of the commodities and formulate policies to raise the commodity prices,' said Jokowi.
On Sunday, President Jokowi is scheduled to distribute Indonesian Smart Cards (KIP), Indonesian Health Cards (KIS) and Prosperous Family Cards (KKS) to eligible beneficiaries in Tua Tunu subdistrict in Pangkalpinang. Afterwards, he will visit a tin smelter in Ketapang before returning to Jakarta. (ebf)
