Indonesia has the opportunity to become a global commodity price\nreference in the coming months. The opportunity is open if the\ngovernment strengthens data on production, supply, demand and commodity\ntransactions in the country.<\/p>\n
Jakarta Futures Exchange (JFX) President Director Yazid Kanca Surya\nsaid commodity prices can become a reference when market participants\nbegin to trust and use prices formed in Indonesia.<\/p>\n
\u201cIf everything is done properly, within a few months we can become a\nprice reference,\u201d Kanca said at the JFX Media Gathering 2026 in Jakarta\non Wednesday (26\/8\/2026).<\/p>\n
According to Kanca, Indonesia has strong capital because it is a\nmajor producer of a number of commodities. However, that production\ncapacity needs to be supported by complete and accurate data so that\ndomestic market conditions can become a reference for global market\nparticipants.<\/p>\n
The data needed covers production, productivity, land area, plant\nage, and commodity trade. Such data is required to provide a more\ncomplete picture of supply and demand conditions.<\/p>\n
\u201cIf we do not know how much supply we have, we can only see demand.\nThe price cannot be determined properly,\u201d he said.<\/p>\n
Kanca cited palm oil as an example. Indonesia is one of the world\u2019s\nlargest palm oil producers, but foreign market participants still use\ndata from other countries as one of their references.<\/p>\n
According to him, the government needs to have a commodity data\ncentre covering production and trade. The availability of such data will\nhelp the market see the supply, demand and price conditions formed in\nIndonesia.<\/p>\n
Experience in tin trading at JFX shows that reference prices from\nIndonesia have begun to attract the attention of international buyers.\nMarket participants no longer look only at prices from overseas\nexchanges, but also at prices formed at JFX.<\/p>\n
\u201cIf people from other countries have started using that price, it\nwill become a benchmark,\u201d Kanca said.<\/p>\n
He believes that pattern can be applied to other commodities,\nincluding palm oil. With a large production base and a strengthened\ndomestic market, Indonesia has the opportunity not only to be a\ncommodity producer, but also to become a place where price references\nare formed.<\/p>\n
\u201cIf within a few months we can already provide prices to the world,\nthat is good. The important thing is that all market participants must\nsupport the initiatives undertaken by the government,\u201d Kanca said.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/indonesia-could-become-global-commodity-price-setter-here-are-the-conditions-1787748773", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }