Indonesia has become one of the largest - if not the largest - tuna producing countries around the globe. It is estimated that Indonesia supplies about one million tons of the saltwater finfish per year or 16 percent of the world's total tuna supply. As such, the tuna fishing industry has become a vital component of Indonesia's fishing industry and an increasingly important foreign exchange earner within the overall economy. Susi Pudjiastuti, Minister of Maritime and Fisheries, is confident that Indonesia will enhance its key role in the world's tuna industry.
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Today's Headlines Fishery Export
Ever since Indonesian President Joko Widodo appointed Susi Pudjiastuti as Indonesia's Minister of Maritime Affairs in October 2014, this ministry has received plenty of attention from the media. When appointed, media were skeptical about Pudjiastuti, a businesswoman who is regarded eccentric for being a divorce, having a tattoo and being a smoker. However, she has survived cabinet reshuffles, turned into a media darling, and - most importantly - Indonesia's fishery sector has grown strongly under her leadership.
Due to the Indonesian government's push to develop the nation's maritime sector, the initial public offering (IPO) of Dua Putra Utama Makmur, an Indonesian integrated fishery, marine product processing and cold storage company, was oversubscribed 1.5 times. I Made Satyaguna, Head of Investor Relations at Dua Putra Utama Makmur, said the company's target of raising IDR 921 billion (approx. USD $67 million) through the IPO has been achieved. More than 90 percent of investors are pension funds.
The Indonesian government has revised its export target for fishery products in 2014 to USD $5.1 billion from USD $5.65 billion. This downward revision has been decided because several export markets, including the United States and Europe, still experience difficulties on their path towards economic recovery, thereby reducing demand for Indonesian fishery products. Although revised, the new target is still much higher than export realization in 2013 when USD $4.2 billion worth of fishery products were exported from Indonesia.
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