Indonesian President Prabowo Subianto announced on August 14 that the country's strategic mineral and commodity exchange will officially commence operations on January 1, 2027.
Speaking at the 2027 State Budget Plenary Session, Prabowo noted that Indonesia is one of the world's largest producers of palm oil, nickel, tin, coal, gold, coffee, rubber and various other commodities, yet prices have long been determined by foreign exchanges. "Through this measure, we will establish Indonesian reference prices for our major export commodities," he emphasised.
The President stated that the exchange aims to create "a deep, transparent, liquid and globally trusted market" where producers, farmers, exporters, buyers and investors can trade within a single regulated system, with clearer data and reduced room for manipulation.
A day earlier (August 14), Prabowo had announced that regulations for the mineral resource exchange would be issued by September 17, 2026 at the latest. The initiative is intended to give Indonesia pricing power over its commodities and break free from the predicament of "resources priced by others."
