KBI Expands Business, Entering Warehouse Receipt Ecosystem

Photo: Doc. Antara

JAKARTA - PT Kliring Berjangka Indonesia (KBI) is expanding its business by entering the warehouse receipt ecosystem which includes financing for warehouse receipts, arrangers, warehouse management, and stand-by buyers through its subsidiary PT KliringTrading Berjangka Komoditi (KPBI).

KBI Executive Vice President Andi Patriota Wibisono said, this effort was carried out in order to expand the company's business, which is in accordance with one of KBI's business pillars in the warehouse receipt ecosystem. KBI is currently carrying out government duties as a Registration Center.

"In this warehouse receipt ecosystem, there are many opportunities that can be exploited outside of KBI's duties as a Registration Center. As we know, in a warehouse receipt ecosystem, there are commodity owners, warehouse managers, traders, buyers, insurance and financing institutions," Andi said in a written statement in Jakarta, quoted from Antara, Tuesday 16 May.

Andi conveyed that it was hoped that KPBI could manage and gain opportunities in this large ecosystem so that in the end it would increase the utilization of warehouse receipts, as well as become an important part in the context of food security run by the government.

According to Andi, the warehouse receipt and commodity trading ecosystem has great potential for development so it is hoped that KPBI can grow with it.

"We project that in the future this warehouse receipt ecosystem will be very attractive, not only for commodity owners, but also for commodity traders/traders in the country. The government's efforts in terms of food security, of course, will also provide great opportunities for commodity traders in Indonesia. Indonesia," said Andi.

Commodities included in the warehouse receipt ecosystem include rice, grain, corn, coffee, cocoa, rubber, salt, pepper, nutmeg, fish, shallots, rattan, copra, tea, seaweed, gambier, tin, crystal white sugar, soybeans, and frozen carcass chicken.

This is in accordance with the Minister of Trade Regulation Number 14 of 2021 which is an Amendment to the Minister of Trade Regulation Number 33 of 2020 concerning Goods and Requirements for Goods that can be Stored in the Warehouse Receipt System, commodities that can enter the Warehouse Receipt System.

Andi said, apart from these commodities, KPBI also runs a business outside the warehouse receipt ecosystem such as cooking oil, cassava, and areca nut, which are considered to have a large market share at home and abroad.