Prabowo Orders His Cabinet to Set Palm Oil and Nickel Prices

We find it strange; we are the world’s largest palm oil producer, yet the price of palm oil is determined by other countries. I tell my ministers this cannot happen; I want our palm oil to be priced by our own nation, we shall determine our own price, Prabowo said in a speech at a plenary session of the DPR/MPR, at the Senayan building, Jakarta, on Wednesday, 20 May 2026. According to him, it is time for Indonesia to have sovereignty in determining its own commodity prices. Indonesia does not need to enforce sales if another country is not willing to buy at the price set by the government. “And if they do not want to buy at our price, then they don’t have to buy; we will use our own palm oil,” he said. Aside from palm oil, Prabowo also highlighted Indonesia’s nickel prices, which he said are still influenced by other countries. He instructed the cabinet to formulate the prices for various national mining commodities. “Why is our nickel price determined by other countries, that cannot be. I instruct my cabinet to formulate the price of nickel, gold prices, prices for all our mines, prices for all commodities must be determined in our own country,” he said. “And if they do not want to buy, that’s fine; leave it underground for our grandchildren rather than selling it cheaply. Fellow citizens, I ask for the support of the assembly; let us work together,” he said.