Indonesia and the UK Ink Cassava Export Deal

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Source tempo.co

Indonesia and the UK Ink Cassava Export Deal

Jakarta's TEMPO.CO Particularly in light of the UK's Brexit, Indonesia and the UK have reached an agreement on the country's concession timetable for the Tariff Rate Quota (TRQ) with country-specific Indonesia for cassava goods. With a 6 percent tariff, Indonesia may export up to 660,000 tons of cassava (HS 071410) annually using this.

On October 24, at the World Trade Organization's Senior Official Meeting (SOM) in Geneva, the agreement was signed (WTO). The agreement was signed by DG Djatmiko Bris Witjaksono of Indonesian International Trade Agreements Negotiations and DG Joanna Crellin of the UK Trade System.

Djatmiko said that Brexit's opportunities and challenges were the reason behind Indonesia and the UK's agreement. First of all, TRQ varies per nation. This means that just 660,000 cassava are meant for Indonesia annually. Second, the import duty on cassava will drop to 6% as a result of this arrangement.

The exporters from Indonesia will profit from this. The standard price of the most favored nation in Indonesia, which is £7.90 per kilogram, must be applied to Indonesia in comparison to the rate in place prior to the TRQ, he stated.

Trademap.org data shows that over the previous ten years, the UK's domestic demand for cassava products averaged 4,268 tonnes. Indonesia has only made up 1.95 percent of all UK imports, which is a negligible contribution to the demand.

According to the data, Indonesia exported 27,000 tons of frozen cassava (HS 071410), or US$19.2 million, to other countries during the five years between 2018 and 2022. Meanwhile, 80 tonnes of Indonesian goods were exported annually to the UK.

Notwithstanding this, the value of the exports increased annually, reaching US$122,000 in 2018, US$138,000 in 2019, US$146,000 in 2020, US$241,000 in 2021, and US$316,000 in 2022.

Djatmiko emphasized, therefore, that TRQ is an essential facility for projecting future cassava exports. Thus, it is anticipated that Indonesian farmers will boost their capacity for cassava production. Moreover, companies or exporters want to accelerate TRQ implementation by utilizing the 6 percent levy. In the UK's markets, hopefully, the outcomes of the negotiations would boost production and cassava's competitiveness to become an export good," he said

Source Tempo.co

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