Head of the Central Statistics Agency (BPS) Margo Yuwono said that the prices of export and import commodities in March 2022 experienced a significant increase. "For example, the first is regarding the price of Indonesian crude oil on the world market or the ICP, which rose to 113.50 US dollars per barrel in March 2022 from 95.72 US dollars per barrel in February 2022 or an increase of 18.58 percent on a monthly basis (month on month). month/MoM)," said Margo during a virtual press conference in Jakarta, Monday. The ICP price also increased by 78.74 percent when compared to the ICP price in the same period in the previous year. Price increases also occurred in other non-oil and gas commodities in March 2022 both on a MoM and Year on Year (YoY) basis.
On a MoM basis, said Margo, commodities that experienced an increase were coal, nickel, palm oil, aluminum, gold and copper. "If we look at a fairly large increase in March, especially in non-oil and gas commodities, namely coal, which increased 49.91 percent (MoM)," said Margo. Then, nickel also increased by 41.26 percent (MoM), and palm oil increased by 16.72 percent (MoM). However, in addition to the increase in prices, several commodity prices also experienced a decline in March 2022 (MoM), including rubber, tin and kernel oil, where rubber fell 2.52 percent, tin 0.08 percent, and kernel oil 0 .05 percent. "So of course the development of commodity prices will affect exports and imports in March 2022," said Margo. According to Margo, several commodities on the chart show a sharp increase which will also affect Indonesia's exports and imports.
