Indonesian COFTRA / BAPPEBTI to launch Mobile WRS

 ipc  22/04/2016  685
The Indonesian Commodity Futures Trading Regulatory Agency (COFTRA), which is a special body under the Ministry of Trade, Government of Indonesia and having the authority to supervise and develop the commodity futures trading market in Indonesia has announced that the agency is set to launch the mobile Warehouse Receipt System during mid of 2016.

The plan of COFTRA/BAPPEBTI to launch the WRS system was mentioned by Mr. Soetriono Edi, the then Chief of COFTRA/BAPPEBTI at a recent Seminar held at Arya Duta Hotel Jakarta.

Mr. Sutriono Edi, the then Chief of COFTRA delivering his speech at the Seminar in Jakarta month of February 2016.

The warehouse receipt system is implemented by the COFTRA/BAPPEBTI aimed at supporting and helping the farmers of different export commodities in Indonesia to protect the farmers and empower them from the possible fall of commodity prices at the time of harvest time (excess supply). The WRS has been implemented to a number of (export) commodities such as Coffee, Rubber, and Cocoa etc. Recently, Pepper has also been included in the WRS scheme

The IPC congratulates the COFTRA/BAPPEBTI on the initiatives in implementing the WRS and mobile WRS system to the pepper players in Indonesia and wish that this initiative would help the Pepper industry to develop further