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Stronger commodity prices helped exports in June: BPS
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A farmer waters tobacco plants on his farm. (thejakartapost.com/Wahyoe Boediwardhana)
A
side from an increase in export volume, Indonesia's robust exports in June were helped by more favorable global commodity prices, Central Statistics Agency (BPS) head Suryamin has said.
According to the agency's observations of a total 22 global commodity prices, 19 commodities experienced an upsurge between May and June. Meanwhile, the prices of three commodities remained gloomy.
"Hopefully it will have a further positive effect on our exports, because weak exports since the beginning of the year were mostly due to the plunge in global commodity prices. Meanwhile, the export volume increased due to high global demand," Suryamin said on Friday in Jakarta.
According to BPS data, the coal price rose 2.93 percent month-on-month (MoM) in June, cocoa 1 percent, copra 8.83 percent, kernel palm oil 6.32 percent, timber 3.29 percent, gold 1.19 percent, nickel 2.8 percent, silver 2.7 percent, alumina 2.8 percent, soy bean oil 0.88 percent, rice 1.8 percent, wheat flour 6.45 percent and sugar 13.16 percent.
Meanwhile, the shrimp price remained stable and crude palm oil fell 3.26 percent MoM. "But compared to the price in June last year, crude palm oil rose 7.9 percent," Suryamin added.
Indonesia recorded its highest exports in the last 12 months, with a total export value of US$12.92 billion in June, a 12.18 percent increase from May's figures. However, exports still dropped 4 percent on a year-on-year basis. (ags)
