Export of key commodities required to use L/C system

By Ruli Setiawan

The Ministry of Trade has issued a new regulation requiring the use of L/C payment system in the export of the country's key commodities including coal, mineral, oil and gas, and crude palm oil.

Reports said Thursday the new regulation, aimed among others to help the government obtain proper export data, will be effective starting April.

The new L/C requirement may undermine particularly small miners with lack of capital who are used to pre-payment system.

Editing by Reiner Simanjuntak