Purbaya Responds to Market Rumors on State Export Agency<\/p>\n
Jakarta. The Indonesian government is reportedly preparing to\nestablish a special export agency that would manage shipments of several\ncommodities, a plan that has sparked concern among investors and\nexporters.<\/p>\n
Finance Minister Purbaya Yudhi Sadewa said he was not yet aware of\nthe details of the proposal and asked the public to wait for an official\nannouncement from President Prabowo Subianto.<\/p>\n
\u201cI don\u2019t know yet. The president will announce it later,\u201d Purbaya\ntold reporters at the Finance Ministry office in Jakarta on Tuesday.<\/p>\n
The proposed agency has become a major topic of discussion among\nbusiness groups, economists, and financial markets in recent days.<\/p>\n
According to circulating reports, the institution would act as a\ncentralized buyer of strategic commodities from domestic exporters\nbefore selling them to international markets.<\/p>\n
The agency is expected to consolidate exports of several of\nIndonesia\u2019s major commodities, including coal, crude palm oil (CPO), and\nminerals.<\/p>\n
Under the proposed mechanism, exporters would no longer sell\ncommodities directly to overseas buyers. Instead, all exports would\nreportedly be routed through a government-appointed entity.<\/p>\n
However, the government has not yet provided official details\nregarding the agency\u2019s structure, operational mechanism, or the list of\ncommodities that would fall under its control.<\/p>\n
It also remains unclear whether the institution would be managed by\nIndonesia\u2019s sovereign wealth fund, Danantara.<\/p>\n
Market speculation suggests the initiative is linked to the\ngovernment\u2019s efforts to curb under-invoicing practices in commodity\nexports, where exporters report lower export values than actual\ntransaction prices.<\/p>\n
Authorities believe the practice may reduce state revenues from\ntaxes, royalties, and export proceeds.<\/p>\n
The proposal has also drawn attention from investors because it could\nsignificantly alter Indonesia\u2019s commodity trading system, particularly\nif exporters are no longer allowed to conduct direct overseas sales.<\/p>\n
Reports circulating in the market suggest President Prabowo could\nannounce the plan during his speech on the government\u2019s macroeconomic\nframework and fiscal policy direction for the 2027 state budget at\nparliament on Wednesday.<\/p>\n
The speculation contributed to a sharp selloff in commodity-related\nshares on the Indonesia Stock Exchange on Tuesday.<\/p>\n
Among the hardest-hit stocks were Bumi Resources, which fell 9.71%,\nDharma Satya Nusantara down 15%, Triputra Agro Persada down 14.97%,\nIndika Energy down 14.69%, Nickel Industries down 12.12%, Merdeka\nBattery Materials down 11.85%, and Amman Mineral Internasional down\n8.12%.<\/p>\n
BRI Danareksa Sekuritas said one of the main triggers behind the\nmarket decline was the rumor of a single-channel export policy managed\nthrough a state entity.<\/p>\n
The brokerage said the proposal raised concerns over possible price\ncontrols and pressure on exporters\u2019 profit margins, weighing heavily on\ncommodity-linked stocks.<\/p>\n
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