Purbaya Says 10 Largest CPO Companies in Indonesia Suspected of Transfer Pricing

JAKARTA - Finance Minister Purbaya Yudhi Sadewa revealed that all crude palm oil (CPO) companies in the Ministry of Finance’s sample were suspected of engaging in transfer pricing through exports.

Purbaya said the sample was taken from Indonesia’s 10 largest CPO companies, randomly checking export shipping documents.

“I selected the top 10, and all of them did it. So it’s safe to say they all did. It was random,” Purbaya told journalists at the parliamentary complex on Monday (25/5/2026).

The audit used three ships per company as samples.

Purbaya stressed that the loss figures are based on a small sample, and the actual national loss could be much higher if all export transactions were thoroughly checked.

“Yes, it would be larger, as it’s only a few ships,” said Finance Minister Purbaya.

Purbaya added that the pattern found in the sample indicates systematic under-invoicing of export prices.

“If randomly checked, the result is like this: 10 companies, three ships, roughly like that,” he said.

Previously, President Prabowo Subianto stated there were suspicions of under-invoicing practices over 34 years from 1991 to 2024, causing the state to lose Rp15.4 trillion.

Under-invoicing is a fraudulent practice where exporters or importers submit false data to the government.

“Under-invoicing is fraud. What they sell is not reported truthfully,” Prabowo said at the Nusantara Building of the DPR/MPR RI in Senayan, Jakarta, on Wednesday (20/5/2026).