Indonesia: Strategic Commodity Prices Will Rise This Year

• Feb 20, 2017

TEMPO.CO, Jakarta – Central bank Bank Indonesia (BI) estimated that the prices of the majority of strategic commodity will increase throughout 2017 and such an increase will leverage the rate of exports as one component of economic growth boosters.

BI economic and monetary policy director on Saturday (18/02) in Bandung said that the prices of a number of commodities to be corrected negatively in 2016 due to low demand such as copper, nickel.

The recovery of the prices estimated by some experts are caused by the increasing projection of global economic growth, the recovery of investments and the problems of surplus estimated to decrease.

Yoga estimated that coal will have the highest significant increase of up to 21.5 percent.

“We see that the numbers are taking a positive turn. 2017 will be a good year,” he explained.

Meanwhile, the price of copper to be corrected in 2016 was 11.7 is estimated to rise by 12.4 percent in 2017, nickel increases by 1.7 percent, and aluminium rises by 13.5 percent.

Source: https://en.tempo.co/read/news/2017/02/19/056847977/BI-Strategic-Commodity-Prices-Will-Rise-This-Year