Jakarta, CNBC Indonesia – The determination of President Joko Widodo (Jokowi) to encourage downstream raw materials is put to the test. How not, when the downstream process is underway, the prices of raw materials which are the Indonesia’s “treasure” has skyrocketed again.
For example, Refinitiv data noted last weekend that the price of coal hit US $ 178.75 / tonne. This is a record, at least since 2008.
Likewise, the CPO price on Bursa Malaysia where earlier this week was recorded at MYR 4,340 / tonne, which means that since the start of the year the price has increased by up to 20.55% since the early 2021.
The world nickel price at the end of last week’s trade also exceeded US $ 20,000 / tonne. The last nickel price reached this level was in 2014. The rise in prices also affected several other raw materials, such as copper ore, lignite and others.
Speaking on the sidelines of the inauguration of the PT HKML Battery Indonesia factory for the electric vehicle industry in Karawang, West Java, Jokowi said the glorious era of raw materials is over.
“We must dare to change the economic structure that was based on raw materials to go downstream, to enter industrialization, to become a strong industrial country based on the development of technological innovation,” Jokowi said on Wednesday ( 9/15/2021).
The strategy of large government companies is to quickly get out of the trap of commodity-exporting countries often inherent in Indonesia.
“Liberate dependence on imported products by accelerating the revitalization of the processing industry, so that it can provide higher economic added value,” he explained.
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