Indonesia treasures paid dearly by China to Hong Kong

Published May 5, 2021

Tridge summary

Indonesia is the world's largest producer of swallow's nest, a high-value health product that is exported and fetches around US $540 million in revenue annually. The product, which is mainly consumed in Asia, is known for its high protein content and is often referred to as the 'caviar of the East'. However, the export prices vary significantly depending on the destination country. Currently, Hong Kong controls 85% of these exports, selling them for US $88, while China sells them for US $1,500, highlighting the price disparity in the market. Indonesia's Trade Minister, Muhammad Lutfi, is planning to change the current rules between the ministry of agriculture and the ministry of trade to promote more exports and ensure better returns for farmers and the domestic industry.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Jakarta, CNBC Indonesia - Indonesia has high-value export products and has become a national treasure trove. The commodity in question is swallow's nest. Since time immemorial, swallow's nest has been known as a source of nutrients that are useful for health. Swallow's nest, which looks like a bowl, is high in protein. Like ginseng from South Korea or shitake mushrooms from Japan, swallow's nest is a natural wealth with high economic value. This commodity is nicknamed the caviar of the East because of its legendary delicacy as well as its extraordinary price. Minister of Trade Muhammad Lutfi assessed that Indonesia is indeed the main producer of the world's swallow's nest. In fact, it is estimated that 80% of swallow nests are supplied from Indonesia. Data from the Ministry of Trade shows that over the past year Indonesia exported up to 1,316 tons or the equivalent of US $ 540 million for swallow's nest to various parts of the world. "When viewed from the amount of tonage, we see ...

Source: Cnbcindonesia