US-Singapore Media Spotlight Prabowo's Control of Commodity Exports
Leading foreign media from Singapore and the United States are now sharply highlighting President Prabowo Subianto’s bold move to centralise control of the country’s main commodity export activities. This strategic policy has immediately drawn international attention as it is seen to potentially reshape global trade and tighten the state’s grip on natural resources.
Channel News Asia, a Singapore-based broadcaster, on Wednesday 20 May 2026 highlighted the decision by President Prabowo Subianto requiring all sales of flagship commodities such as palm oil and coal to be conducted through a single channel. The single-exporter system via state-owned enterprises (SOEs) is described as a drastic step by Jakarta to stop leakage of government revenue from the commodity sector.
The Singaporean media underscored President Prabowo’s statement that Indonesia has lost potential revenue of up to US$908 billion (Rp16,071.6 trillion) due to exports being undervalued for decades. Practices of under-invoicing and transfer pricing by private sector players are said to be the main triggers that the government seeks to eradicate with this new regulation.
‘Today the government of Indonesia which I lead will issue regulations on the management of commodity exports,’ said President Prabowo Subianto.
‘The issuance of this regulation is a strategic step to strengthen the management of our commodity exports,’ he added.
‘All sales of our resources, from palm oil to coal, must go through a government-selected SOE as the sole exporter,’ asserted Prabowo.
Meanwhile, citing a report from U.S. Associated Press, Western media highlighted the immediate impact of the export-tightening announcement, which triggered mass market panic in domestic financial markets. Global investors view the state’s plan for a monopoly in exports as a potential threat to free-market mechanisms and could sharply cut margins for commodity issuers.
Associated Press also noted a continual fall in the Jakarta Composite Index (IHSG) on the Indonesia Stock Exchange in response to the policy. It was reported that Jakarta’s main stock index fell by 3.5% on Tuesday, with the downward trend continuing into Wednesday with a further drop of nearly 2%.
Despite the policy drawing sharp international scrutiny and triggering market volatility, Prabowo reiterated that full control over natural wealth is an inalienable right to ensure the welfare of the people. The President said Indonesia’s economy must be managed to the fullest to boost state revenue, as Indonesia is a resource-rich country and a G20 member.
‘In the government’s view—and I am confident every patriot will support this—land, water, and all the natural wealth contained within belong to all Indonesians,’ concluded Prabowo.