Gold Producers Reveal Global Dynamics Hindering Exports
Jakarta, CNBC Indonesia - Deputy for Coordination of State-Owned Enterprise Management and Development Ferry Irawan conducted a direct visit to the production centre of gold jewellery manufacturer PT Untung Bersama Sejahtera (UBS) on Tuesday (31/3/2026).
The visit was intended to gain a direct understanding of the jewellery industry’s conditions and to discuss the direction of future policy strengthening.
This activity is part of the Government’s efforts to ensure the continuity of the national gold supply chain, from upstream to downstream, including its integration with bullion business operations.
In response, Director of PT UBS and Chairman of the Indonesian Jewellery Producers Association (APPI) Eddy Yahya stated that the pressures are reflected, among others, in the hindered exports to Dubai as one of the main markets.
Nevertheless, industry players still view medium-term demand prospects positively. Eddy added that the culture of saving and investing in gold in Indonesia is deeply rooted, similar to that in India.
Thus, the gold and gold jewellery industry is optimistic that demand will improve again as market conditions normalise. Eddy also emphasised the importance of strengthening the domestic supply side through the development of bullion business operations.
“We hope that bullion business operations can support the availability of gold raw materials that are more efficient and competitive for the industry,” said Eddy, quoted on Monday (6/4/2026).
In line with this, the Government reaffirmed its commitment to strengthening the national gold ecosystem in an integrated manner. “The Government will continue to consolidate the continuity from upstream to downstream, so that the overall competitiveness of the gold ecosystem can continue to be enhanced,” concluded Deputy Ferry.
To the government, Eddy also expressed appreciation for various Government policies, including the implementation of gold export duties, which are seen as supporting the strengthening of the domestic industry.
On the other hand, APPI also conveyed several strategic inputs to the Government, particularly in refining taxation policies and strengthening the domestic gold market structure.
The Government welcomed these inputs well as part of joint efforts to create a more efficient taxation system, support the business climate, and strengthen the national jewellery industry’s competitiveness sustainably.
The Government hopes to continue strengthening synergy with industry players in driving more comprehensive policy development, including in taxation aspects, supply chain strengthening, and integration with bullion business operations, so that the national jewellery industry can grow stronger, more competitive, and sustainable.