Tin trade to be supervised by two ministries

The Ministry of Trade is drafting a new regulation that would allow two ministries to supervise tin trade as part of efforts to help curb illegal export, reports said on Monday.

Investor Daily and Koran Tempo said that the Ministry of Trade will be in charge of supervising the trade of tin in the form of bars (upstream product), while the Ministry of Industry will be in charge of supervising the trade of downstream products including tin in the form of solder, other forms of tin and non-ingot tin.

President Commissioner of the Indonesia Derivative and Commodity Exchange (ICDX) Fenny Widjaya welcome the plan, describing it as a smart move that would allow the country, a top tin producer in the world, to help curb illegal shipment and influence price of the commodity. (*)