Dasco Says Mineral Exchange Regulation Must Be Completed in 2026

Jakarta - Deputy Speaker of the House of Representatives (DPR) Sufmi Dasco Ahmad stated that regulations concerning the mineral exchange, as pushed by President Prabowo Subianto, must be completed this year. “It must be this year (2026),” Dasco said when met after a DPR plenary session regarding the Draft Law on the 2027 State Budget at the parliament complex in Senayan, Jakarta, on Friday.

Regarding the mechanism for discussing the regulation, Dasco said the government could submit a request for a meeting with the DPR. “We will just ask whether this is a government proposal or a DPR proposal, and we will proceed according to the mechanism. And indeed, if it is not too voluminous and not too crucial, it can be processed quickly in the DPR,” he explained.

Previously, President Prabowo Subianto targeted the establishment of an Indonesian Mineral and Strategic Commodities Exchange to begin operations on 1 January 2027. During the government’s introduction of the 2027 State Budget Bill and its financial note on Friday, the President expressed hope that the exchange’s operational provisions could be discussed and issued by the DPR promptly. “With the DPR’s support, we plan to have our own commodity exchange by 1 January 2027. We are targeting the provisions for the Mineral and Strategic Commodities Exchange to be discussed with the DPR and issued as soon as possible,” he said.

The President stated that the establishment of the exchange is a continuation of the government’s ongoing single-door export policy. The government has also discussed the plan with the Financial Services Authority (OJK). He noted that for decades, Indonesia has been one of the world’s largest producers of various strategic commodities, such as palm oil, nickel, tin, coal, coffee, and rubber. However, he assessed that the prices of many Indonesian commodities have largely been determined by commodity exchanges abroad. The President said this condition must change so that Indonesia, as a producer country, has a greater role in determining commodity prices.

“Those who do not own these commodities are the ones determining their prices. This is illogical. I do not understand where such economic science is taught. We own the goods, but others determine the price,” he said. The government will operationalise the Mineral and Strategic Commodities Exchange under the supervision of the OJK. Through this exchange, the government aims to establish an Indonesia Reference Price for key export commodities. According to the Head of State, the exchange will bring together producers, farmers, exporters, buyers, and investors in a single supervised system. With more transparent transaction data, the government hopes to significantly reduce the scope for fraudulent practices.