Support for Indonesia's Strategic Commodities Exchange: Governance Must Be Science-Based and Transparent
The Gadjah Mada University Geological Engineering Alumni Association (Kageogama) supports the government’s plan to establish a Strategic Minerals and Commodities Exchange (BMKS) as the foundation for an Indonesia Reference Price. The policy will address a more fundamental issue than merely a trading venue: whether Indonesia’s geological wealth can be converted into economic value, bargaining power, and genuinely return as much as possible to the nation.
During the Annual Session of the People’s Consultative Assembly (MPR RI) and the Joint Session of the House of Representatives and Regional Representatives Council (DPR-DPD) at the Parliamentary Complex in Senayan, Central Jakarta, on Friday (14/8/2026), the President stated that supervision by PT Danantara Sumber Daya Indonesia (DSI) of more than 6,500 export transactions over two months and thirteen days identified potential additional state revenue. The figure is approximately 5 billion US dollars from price differences and adjustments.
In the presentation of the 2027 State Budget Plan (RAPBN) on the same day, President Prabowo announced the target for BMKS to begin operations on 1 January 2027. The BMKS will operate under the supervision of the Financial Services Authority (OJK) to establish an Indonesian reference price.
Kageogama Chairman for the 2024-2027 period, Sonny Yudhistira, assessed that the policy direction is relevant to Indonesia’s responsibility as a country with a large geological resource base. He stated that the advantage of being a producer is insufficient if the country does not have a system capable of maintaining data integrity, commodity quality, and transaction fairness.
“This is a momentum to improve the relationship between the resources we possess and the value that returns to the nation. Kageogama supports the direction with one principle: governance must be science-based, transparent, competitive, and trustworthy,” said Sonny in a press release in Jakarta on Thursday (20/8/2026).
The statement aligns with Kageogama’s character as an alumni network working across mining, energy, environment, disaster management, education, research, and other strategic sectors. “The state is not enough merely to possess commodities; the state must be able to maintain the integrity of the system that ensures those commodities are valued fairly,” said Sonny.