Prabowo Orders Indonesia to Determine Prices of Gold, Nickel and Palm Oil

JAKARTA, KOMPAS.com – Indonesian President Prabowo Subianto has ordered his cabinet colleagues that Indonesia must set its own prices for nickel, gold and palm oil. He stressed that the prices of commodities extracted in Indonesia should not be determined by foreign countries. “We find it strange that we are the world’s largest palm oil producer, yet the price of palm oil is determined by other countries. I told my ministers, this cannot happen; I do not want our palm oil to be determined by others,” Prabowo said at the Indonesian House of Representatives Building in Senayan, Jakarta, on Wednesday, 20 May 2026. If other countries refuse to buy these commodities from Indonesia, Prabowo said he has no problem with that. After all, he said, commodities such as palm oil can be used domestically by Indonesia.