Apart From Fish, Minister Trenggono Said These 5 Commodities Have High Economic Values

Minister of KP Sakti Wahyu Trenggono (photo: Theresia Agatha/VOI)

JAKARTA - Minister of Maritime Affairs and Fisheries (KP) Sakti Wahyu Trenggono said, there are five main commodities in Indonesian marine waters that have high economic value. The five commodities are shrimp, seaweed, tilapia, crabs and lobsters.

Minister Trenggono said the five commodities were not only important abroad but also had a high level of domestic demand.

"The data we get from domestic fish consumption alone has reached 13 million tons each year of all types. In fact, we still have imports such as salmon and sardines," Trenggono said on the agenda of the Indonesia Maritime and Fisheries Business Forum 2024 in Jakarta, Monday, February 5.

According to Trenggono, the five commodities have great potential to be processed in the future. "So, we prioritize increased production in the five leading export commodities," he said.

As for 2023, the global shrimp market reached US$60.4 billion, seaweed has a market value of US$16.7 billion and tilapia fish reached US$13.9 billion.

Then, the global crab market reached 879 million US dollars and lobsters which reached 7.2 billion US dollars. Meanwhile, Indonesian seaweed itself has contributed 16.7 percent of the global market share, while lobsters are only 0.5 percent.

In addition, Trenggono also invited investors to work together to develop and improve Indonesia's marine and fisheries economy.

"I invite Your Honor, the ambassador of friendly countries and investors to invest in the marine and fisheries sector of Indonesia. The Indonesian government is committed to providing ease of licensing, incentives, security and stability of the political climate and skilled human resources connectivity," he said.

Based on KKP data, the investment value in the marine and fisheries sector of the Republic of Indonesia reached Rp9.56 trillion until the third quarter of 2023.

The investment achievement consists of domestic investment of IDR 5.32 trillion, foreign investment (PMA) of IDR 1.4 trillion and investment loans of IDR 2.84 trillion. Regarding the realization of the largest PMA from China, it reached IDR 370.74 billion, followed by Malaysia IDR 240.4 billion and Switzerland IDR 152.89 billion.