Up 154 Percent, Issuance Of Warehouse Resi PT KBI Tembus 688 As Of July

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JAKARTA - A subsidiary of BUMN Holding Danareksa, PT Kliring Berjangka Indonesia (PT KBI) continues to boost the warehouse resi system (SRG) business. PT KBI managed to issue 688 warehouse resi (RG) as of July 2024. This figure increased by 154.8 percent compared to the position in July 2023 which was recorded at only 270 RG.

For information, the warehouse resi system or SRG is an activity related to the issuance, transfer, guarantee and completion of Warehouse Resi Transactions.

Meanwhile, the warehouse receipt is a document or proof of ownership of goods stored in the warehouse and issued by the warehouse manager who has received approval from BAPPEBTI and has collaborated with PT KBI.

The SRG aims to empower farmers and business actors where the resulting commodities are able to provide economic value and increase competitiveness in the national and international economy.

Currently, there are 22 commodities included in the SRG of PT KBI, namely grain, rice, corn, coffee, cocoa, pepper, rubber, seaweed, rattan, salt, gambir, tea, copra, tin, onions, fish, nutmeg, chicken frozen carcas, white crystal sugar (GKP), soybeans, tobacco, and cinnamon.

Farmers, collectors, or producers who use PT KBI's RG services, can get financing after storing their commodities.

President Director of PT KBI, Budi Susanto, said that the financing disbursed by PT KBI had reached Rp1.1 trillion in July 2024. This figure increased by 95 percent year on year (yoy) or compared to July 2023 which was only Rp339 billion.

Budi Susanto said that SRG could be a way to suppress food inflation. This is because farmers can store their crops, and resell them when the harvest is over.

That way, continued Budi, this can prevent price reductions during harvest, and drastic price increases when there is no harvest season.

"If farmers can take advantage of the SRG and the ecosystem that surrounds it, farmers can postpone their sales while waiting for price movements and get financing to produce the next commodity," Budi said in Jakarta, written Friday, August 16.

Run Farmers' Corporate Program

Budi revealed that PT KBI and its subsidiary, PT Kliring Perdagangan Berjangka Indonesia (PT KPBI) also involved the provincial government (Pemprov) to run the Farmers Corporation Program. The goal is that the Commodity Trading Ecosystem can reach all Indonesian farmers.

Budi also said that PT KBI is working with the East Java Provincial Government, the West Sumatra Provincial Government, and BUMN in the Industrial Estate to form Farmers' Corporations to control inflation and encourage farmers' independence.

Furthermore, Budi said that Farmers' Corporations are made to change the mindset of farmers from producers to producers and entrepreneurs simultaneously. It is hoped that farmers will not only focus on the on-farm process or during the planting period, but also pay attention to the off-farm aspect or after harvest.

"We have a big dream for the development of this Commodity Trading Ecosystem, we want to build integration from the three business lines we have, namely SRG, PLK and PBK," he explained.

Budi said that commodities that have been stored in RG warehouses can be traded in the auction market. In this way, price transparency is created and ultimately becomes a price reference for commodity exchanges to be used as a reference for trading prices.

"We also project that the use of RG will continue to increase in the future," said Budi.