DSI: Between a New Power and Export Risks
Jakarta (ANTARA) - Indonesia is attempting a new breakthrough in managing its natural resource wealth. Through PT Danantara Sumberdaya Indonesia (DSI), the state seeks greater visibility over the exports of coal, palm oil, and ferroalloy—three strategic commodities that have long been vital sources of national foreign exchange.
The concept is straightforward. If natural resources are strategic assets, it is not enough for the state to merely know how much of a commodity leaves the port. The state also needs to know the actual transaction prices, the identity of the buyers, where the foreign exchange flows, and the extent to which the economic value ultimately returns to serve the Indonesian economy.
Nevertheless, major policies almost always have two sides. The consolidation of export governance could strengthen transparency and Indonesia’s bargaining position. Conversely, if designed too administratively, the new mechanism could potentially create bottlenecks in trade.
Therefore, the real issue is not simply whether DSI needs to exist, but what kind of DSI Indonesia requires.
Government Regulation Number 24 of 2026 regarding the Export Governance of Strategic Natural Resource Commodities provides the foundation for this mechanism. DSI began operations on 1 June 2026, with an initial scope covering coal, palm oil, and ferroalloy.
The objective of this policy is fundamentally rational: to increase transaction transparency, strengthen the management of export proceeds (DHE), minimise the opportunity for under-invoicing, and ensure that Indonesia obtains more optimal economic value from its natural resources.
This need is increasingly relevant as the external balance faces challenges. Statistics Indonesia recorded Indonesia’s export value from January to July 2026 at US$167.03 billion, a growth of 4.43 per cent compared to the same period the previous year. Simultaneously, imports rose by 19.94 per cent to US$163.33 billion, resulting in a trade surplus of approximately US$3.70 billion during the first seven months of 2026.
These figures convey an important message: the quality of foreign exchange is just as important as the total export value. Dollars from commodity sales should not merely appear in trade statistics; they must provide long-term benefits for foreign exchange liquidity, economic stability, financing, and domestic productive activities.
This is where DSI has the potential to add value. If strategic commodity transactions can be monitored within an integrated data ecosystem, the government will gain a more complete picture of prices, volumes, buyers, contracts, and foreign exchange receipts.
Information asymmetry can be reduced, and transactions involving unfair prices can be more easily detected. Indonesia’s bargaining position also has the potential to increase because market information will no longer be fragmented across individual companies. As a key supplier of several global commodities, Indonesia should possess the ability to read the market in aggregate.
This scheme can also complement the Export Proceeds (DHE) policy. DSI strengthens visibility on the trade transaction side, while the DHE policy ensures that export revenues provide greater benefits to the domestic economy. If both are well-connected, Indonesia will possess an additional instrument to strengthen external resilience.
The Need for Speed
Better supervision does not necessarily mean that all commercial decisions must be centralised. Commodity trading requires speed. The prices of coal, palm oil, and minerals can change rapidly. Every buyer also possesses different credit qualities, delivery requirements, product specifications, payment terms, and logistics cost structures.
If transactions must pass through lengthy additional administrative stages, the benefits of transparency could be eroded by rising transaction costs and lost market momentum.
Consequently, the transition period towards full implementation should be treated as a policy laboratory. The government needs to use simple and measurable indicators, such as whether export processing times increase, whether transaction costs rise or fall, whether the selling prices received by exporters improve, whether foreign exchange inflows to the country increase, and whether exporters’ access to global buyers remains intact.
If these indicators show positive results, DSI’s role will gain stronger economic legitimacy. However, if bottlenecks or distortions emerge, the mechanism must be refined before being fully implemented.