Palm Oil Industry Chief Stands Firm on Export Manipulation Allegations
Jakarta, CNBC Indonesia - GAPKI Chairman Eddy Martono has spoken out regarding Finance Minister Purbaya Yudhi Sadewa’s allegations of under-invoicing and transfer pricing practices by 10 major companies in the crude palm oil (CPO) sector.
Eddy stressed that the association would not protect any member found guilty of breaking the law, and that legal proceedings should proceed if the allegations are proven.
“Frankly, these are just allegations,” Eddy said during an interview at the Ministry of Agriculture (Kementan) in Jakarta on Tuesday, 26 May 2026. “GAPKI has agreed that if any member violates the law, they must be legally processed. We don’t want just one or two individuals to harm the industry.”
He emphasised that current allegations cannot be taken as final conclusions without legal proof, and urged that the issue not cause further unrest in the palm oil industry.
“So, let the process proceed to confirm whether it’s true or not,” he said. “But don’t let mere allegations complicate matters further. If proven, legal action is agreed upon.”
Eddy also confirmed that export reporting systems for GAPKI member companies are strictly monitored, including foreign exchange flows regulated by Bank Indonesia.
“Everything is recorded, including taxes and exports. The foreign exchange is monitored via Bank Indonesia’s SIMODIS system. Once goods are exported, Bank Indonesia tracks it immediately. If no foreign exchange arrives within three months, a warning is issued, and if still unresolved, the account is frozen,” he explained.
According to Eddy, if any company is found guilty, it would not disrupt the national palm oil industry’s governance. He believes the case involves only specific individuals and does not represent the entire industry.
“It’s just a legal process involving individuals, not the whole industry,” Eddy added. “This shouldn’t destabilise the industry, as long as governance remains stable.”
“As long as it’s a legal process for those who have violated the law, I don’t think it will disrupt the industry,” Eddy continued.
When asked about allegations of shell companies abroad, as previously mentioned by the government, Eddy declined to comment further and urged law enforcement agencies to handle the investigation.
Finance Minister Purbaya Yudhi Sadewa has begun naming companies under investigation for transfer pricing, including Wilmar and Musim Mas, with coal companies also being probed for export price manipulation.
“Wilmar, Musimas. There are a few more,” he told journalists at the Coordinating Ministry for Economic Affairs on Tuesday, 25 June 2026.
“Golden Agri, yes…Musim Mas was mentioned earlier…Salim Ivomas seems to be included,” he added.
When pressed for names, Purbaya said PT Astra Agro Lestari Tbk (Astra Group) was not on the list.
“Astra Agro doesn’t seem to be there. I think not,” he said.