Indonesia launches pilot commodity export monitoring platform
National Data Intelligence will be rolled out gradually after starting with a selected group
The Indonesian government's commodity export monitoring company, Danantara Sumberdaya Indonesia (DSI), has initiated a pilot phase for a new National Data Intelligence platform. The objective of this platform is to enhance price transparency and eliminate irregularities in the export of key commodities. The pilot phase commenced on June 1, focusing on the monitoring of exports of palm oil, coal, and ferroalloys.
DSI CEO Luke Mahony stated that the primary goal of the initiative is to boost transparency and visibility while ensuring the smooth continuation of export activities. During the pilot phase, the platform will oversee shipments from a selected group of exporters before gradually expanding its coverage to other entities. The data collected by DSI includes export volumes, prices, shipments, and settlement reconciliations for the three primary commodities. This data will be analyzed to uncover any inconsistencies.
Established earlier this year, DSI is a component of President Prabowo Subianto's initiative to strengthen oversight and deter what he has termed as commodity shipment leakages. Prabowo has accused certain entities of employing under-invoicing and transfer pricing strategies to divert profits overseas. In May, the president unveiled a contentious proposal to centralize the exports of Indonesia's principal export commodities via DSI. However, the plan was later toned down, with DSI assured to monitor rather than control exports.
Indonesia, being resource-rich, is the largest global exporter of thermal coal, palm oil, and nickel. Additionally, it serves as a significant supplier of tin, copper, bauxite, and coffee beans.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
