Govt imposes tin production quota to cut exports.
The government plans to cut exports of tin bars by imposing production quota with an ultimate goal to prevent excessive exploitation, an official said. Export restriction will not be effective to cut export and prevent excessive exploitations as there is always possibility of smuggling, Foreign Trade Director General Diah Maulida said earlier this month. The government has not set limit to exports but has sought to control exports by allowing only registered exporters to export that commodity. Diah said the new measure is expected to improve the image of the country as the third largest tin producer in the world. The government has cracked down on illegal miners blamed for large tin smuggling from the country resulting in oversupply and a sharp fall in the price of that commodity in the world market in the past few years. The crack down has succeeded in sending the price of tin to peak level lately.
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|Title Annotation:||ECONOMIC NEWS IN BRIEF|
|Publication:||Indonesian Commercial Newsletter|
|Date:||Apr 1, 2008|
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