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Indonesia plans to centralize control of commodity export prices
By Stanley Widianto, Gayatri Suroyo, and Fransiska Nangoy
Reuters
Wednesday, May 20, 2026
JAKARTA -- Indonesia today unveiled a sweeping plan to centralise exports of key commodities such as palm oil and coal, aiming to boost government revenue through tighter control of the sale and pricing of its abundant natural resources.
Sovereign wealth fund Danantara will oversee a trading company designated to channel exports, starting with palm oil, coal, and ferroalloys after a three-month transition. The government may add more commodities at three-month intervals.
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"I tell my cabinet: Formulate prices for nickel, gold. Every price must be determined by us," President Prabowo Subianto said in a fiery speech to parliament.
"If they don't support our price, then they don't have to buy it. We can use it ourselves."
Indonesia is the world's biggest exporter of palm oil, thermal coal, and nickel, and Prabowo's plan aims to tackle concerns about under-invoicing and how exporters account for transfer pricing. ...
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