Trade Minister Provides Update on OJK Commodity Exchange Plan, Will CPO Be Included?

Jakarta, CNBC Indonesia - Trade Minister Budi Santoso has said his ministry is still awaiting the Financial Services Authority’s (OJK) decision regarding the list of strategic commodities to be traded through the Strategic Mineral and Commodity Exchange (BMKS).

Budi said the establishment of the BMKS is currently being prepared together with the OJK. The Trade Ministry, he said, is also involved through the Commodity Futures Trading Regulatory Agency (Bappebti).

He explained that the preparation process for the exchange involves forming a cross-agency team, including with Danantara. The discussion pattern is said to be similar to the process of establishing the previous crypto asset exchange.

“(The Trade Ministry) is involved. So a team has now been formed with the OJK. The OJK with us through Bappebti, and we have also met with Danantara. We are forming a team like before when it came to crypto products, we also had a team,” Budi said when met at his office in Jakarta on Thursday (27/8/2026).

Nevertheless, Budi said the government has not yet finalised which commodities will be included in the BMKS. He said the decision will ultimately rest with the OJK through special regulations currently being prepared.

“So later there will be special regulations from the OJK on which strategic commodities will be included. We are still waiting to see what the OJK will decide,” he said.

Palm Oil on the List, What Would Be the Impact?

One commodity currently drawing attention is palm oil, or crude palm oil (CPO). The commodity is currently traded through the Indonesia Commodity and Derivatives Exchange (ICDX), but is also being discussed for inclusion in the BMKS.

Budi confirmed that the Trade Ministry will provide support in the process of establishing the exchange. The Trade Ministry’s role is carried out through Bappebti, while the operation and provisions of the BMKS refer to the financial sector regulatory framework.

“In principle, we are ready to help, assist, or provide support for the establishment of the new exchange. Because the OJK will ultimately decide, and we will continue to help,” he said.

For context, the establishment of the BMKS is part of strengthening the strategic commodity trading ecosystem, referring to Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (UU P2SK).

The government is targeting the BMKS to begin operations on 1 January 2027. CPO is one of the strategic commodities said to be included in the exchange.