China to Import $150 Million Worth of Swallow’s Nest from Indonesia Next Year

JAKARTA, KOMPAS.com – China will start to import $150 million worth of swallow’s nests  from Indonesia next year following the signing of the Letter of Intent (LoI) between Indonesia and a China representative recently.

“It is hoped that all Indonesian trade representatives abroad can play an active role in promoting the country’s products which can increase export value,” said Trade Minister Agus Suparmanto in a statement on Friday, November 6.

He said that the signing ceremony took place in Xiamen, China on October 28. Representing Indonesia was the trade attaché at the Indonesian Embassy in Beijing Marina Novira, while on behalf of China was Huang Danyan, general manager of Production Center from Xiamen Yan Palace Seelong Food Co., Ltd. 

Also read: Indonesia Ready to Export 700 tons of Tin

Xiamen Yan Palace Seelong Food is an importer and swallow’s nest processing company that uses 100 percent of its products from Indonesia.

Marina said that through the LoI signing, it is hoped that the export value of swallow’s nest products will increase and can contribute to the national non-oil and gas export sector.

“Indonesia is the largest producer of swallow’s nest in the world, while China is the world’s largest consumer of swallow’s nest,” she said.

She went on to say that currently there are only 23 swallow's nest companies registered with China’s Customs. These are the companies that can officially export their products to China.

Also read: Indonesia Faces Recession as Economy Shrinks 3.49 Percent in Q3

Thirteen registered companies have been inspected by China’s Customs in December 2019 after they applied for permits to increase the volume of their exports.

“We are in discussion with the Chinese government regarding the inspection process and hope it can be completed soon,” she said.

“So that the export value of swallow’s nest products can be increased given the high demand for these commodities in China,” she added.

From January-August 2020, China's total import value of swallow’s nest reached $275.7 million. Of this amount, 73.7 percent or $203 million came from Indonesia.

The value of China’s imports of swallow’s nests in the period was 90.3 percent higher than in the same period last year.

(Writer: Yohana Artha Uly | Editor: Yoga Sukmana)

Source: https://money.kompas.com/read/2020/11/06/203200326/china-beli-produk-sarang-burung-walet-indonesia-senilai-rp-2-2-triliun.