Danantara Sumberdaya Indonesia to collect export verification fees from January 1
JAKARTA, Nov 3 (Reuters) - Danantara Sumberdaya Indonesia, a company established by the Indonesian government to supervise commodity exports, will start collecting fees for export verification when its monitoring portal goes into full operation on January 1, its chief executive said on Tuesday.
The firm, also known as DSI, launched the National Data Intelligence (NADI) platform last month, which will collect data relating to export contracts, shipment volumes, prices, product specifications, ship tracking and the repatriation of earnings for major commodities like palm oil, coal and ferroalloys
DSI said the amount charged for the platform fee is still being discussed with shareholders and ministerial bodies
"Once we can get that approved, I want to get out to the market very quickly. ... The market wants certainty and clarity," DSI chief executive Luke Mahony told an industry conference
The platform is currently in the trial phase covering selected exporters of the commodities
DSI, set up earlier this year, is part of President Prabowo Subianto's plan to improve oversight over commodity trading and prevent what he has described as commodity shipment leakages
Prabowo has accused exporters of using practices like under-invoicing and transfer pricing to shift their profits abroad
Mahony said DSI will analyse the data it compiles to identify any discrepancies
"We need to understand why there's a difference. ... If there is still perceived value leakage, we will pass it to the relevant ministerial body to investigate," he added
In May, Prabowo announced a controversial plan to centralise exports of Indonesia's top export commodities through DSI, a move that rattled commodity markets, but he later watered down the plan and said commodity exports would be monitored but not controlled by Danantara
Resource-rich Indonesia is the world's biggest exporter of thermal coal, palm oil and nickel. It is also a major supplier of tin, copper, bauxite, and coffee beans