- President Prabowo Subianto targeted Indonesia to have a Strategic Mineral and Commodity Exchange operating on January 1, 2027, with the support of the DPR.
- Deputy Speaker Sufmi Dasco Ahmad said the regulation regarding the mineral exchange, as encouraged by President Prabowo Subianto, must be completed by 2026.
- Dasco explained that the DPR will determine whether the proposal is a government proposal or a DPR proposal and will follow the mechanism.
- The President said the establishment of the exchange was a continuation of the one-stop export policy being implemented by the government, and the government has discussed the plan with the Financial Services Authority (OJK).
- Indonesia has been one of the world's largest producers of various strategic commodities such as palm oil, nickel, tin, coal, coffee and rubber for decades, but prices have been determined through commodity exchanges abroad.
- The President argued that Indonesia as a producer country should have a greater role in determining commodity prices, criticizing that others determine prices for goods Indonesia has.
- The government will operationalize the Strategic Mineral and Commodity Exchange under the supervision of the OJK, targeting the formation of an Indonesia Reference Price for major export commodities.
- The exchange will bring together producers, farmers, exporters, buyers and investors in a supervised system, and with more transparent transaction data, the government hopes to narrow the space for fraudulent practices.
Deputy Speaker Sufmi Dasco Ahmad stated that the regulation for Indonesia's mineral exchange must be completed by 2026, as part of President Prabowo Subianto's initiative to establish a Strategic Mineral and Commodity Exchange by January 1, 2027.12341213
"It must be this year (2026)," Dasco said, emphasizing the urgency of the regulation's completion. He noted that the House of Representatives (DPR) would expedite the process if the proposal is not overly complex.
President Prabowo highlighted that the exchange aims to shift the pricing power of Indonesia's strategic commodities, such as palm oil, nickel, tin, coal, coffee, and rubber, from foreign exchanges to local control. He criticized the current system where foreign entities dictate prices, stating, "Those who don't have these commodities have a certain period to determine the price of the commodity. This doesn't make sense."
The government plans to operationalize the exchange under the supervision of the Financial Services Authority (OJK), aiming to create an Indonesia Reference Price for major export commodities. This initiative is part of a broader strategy to enhance transparency and reduce fraudulent practices in commodity trading.671415
"With more transparent transaction data, the government hopes that the space for fraudulent practices can be narrowed further," the President added.
“The exchange, supervised by the OJK, aims to establish an Indonesia Reference Price for major export commodities like palm oil, nickel, and coal, which have long been priced abroad. Prabowo argues producer countries should set prices, criticizing that others determine prices for goods Indonesia has.”
VOI.ID
