Indonesia moves to control mineral, resource prices with 2027 Exchange
Initiated by President Prabowo Subianto, the centralized exchange is set to begin operations on January 1, 2027.
“With the commodity exchange ordered by the President, it is hoped that for all our natural resource commodities produced from our country, we ourselves will regulate the prices,” Bahlil said on the sidelines of the 12th Indonesia International Geothermal Convention & Exhibition (IIGCE) in Jakarta on Wednesday.
For decades, Indonesia has ranked among the world’s primary suppliers of key global commodities, including nickel, coal, tin, palm oil, coffee, and rubber.
However, domestic officials have long expressed frustration that international exchanges abroad largely dictate market valuations.
To illustrate the vulnerability of relying on external market dynamics, Bahlil pointed to recent volatility in coal markets. The government’s Reference Coal Price (HBA) dropped to US$97.65 per ton in mid-July 2025 before supply management efforts helped push the benchmark back up to US$124.06 per ton by August 2026.
“As soon as we tighten things up, maintain supply and demand, prices are now starting to get better,” Bahlil noted.
Therefore, the presence of the new exchange aims to give Indonesia complete independence in determining the value of its raw material exports.
“President Prabowo wants all the wealth in our country to be managed completely by our country at good economic prices,” Bahlil emphasized.
The establishment of the Strategic Mineral and Commodities Exchange represents the next phase of the administration’s broader “one-stop export” framework.
Supervised directly by the Financial Services Authority (OJK), the platform is tasked with establishing an official “Indonesia Reference Price” across various major export categories, shifting the balance of pricing power back to the producing nation.
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Translator: Putu Indah Savitri, Yashinta Difa