By The Straits Times | Created at 2026-08-18 07:10:33 | Updated at 2026-08-18 07:38:38
30 minutes ago
JAKARTA – Indonesia’s planned exchange for “mineral and strategic commodities” will likely include palm oil, nickel and coal, a presidential spokesperson said as the government makes preparations to launch the bourse on Jan 1.
President Prabowo Subianto announced the plan during his 2027 budget proposal speech on Aug 14, saying that Indonesia’s aim was to create its own reference price for many of its key commodities.
It was his latest push to leverage the country’s vast reserves of natural resources to boost growth. South-east Asia’s biggest economy is the world’s largest exporter of palm oil, thermal coal and nickel products and a major supplier of coffee beans, bauxite, tin and copper, among others.
The government is currently ironing out the details on how to implement the plan, including the types of commodities that will be traded on the exchange, presidential spokesperson Prasetyo Hadi told reporters on Aug 17 on the sidelines of Indonesia’s Independence Day celebrations.
“Certainly it will cover the commodities that are our primary products, such as CPO (crude palm oil), nickel, and coal,” he said.
The Financial Services Authority (OJK) will introduce rules for the bourse by Sept 17, its chief Friderica Widyasari Dewi told reporters.
The OJK rules will include the phased transition of trades into the new exchange, she said on Aug 14, while a separate presidential decree will be issued to list which commodities will trade on the bourse. REUTERS
