Indonesia Aims for Price Influence with New Commodity Bourse Launch

Indonesia is working to increase its influence over global commodity prices by launching a new exchange in January 2027. The country's chief regulator, Sarjito, who was sworn in on Wednesday, said that initially, the bourse should aim to become a 'price influencer' rather than a 'price taker'. This means setting a lower target and becoming an exchange that can be referenced by others.

Indonesia is one of the world's largest exporters of thermal coal, palm oil, nickel, tin, copper, alumina, and coffee beans. Its current policies already affect benchmark prices on Malaysia's derivatives exchange and have pressured prices on bourses in London and Shanghai.

The new bourse is part of President Prabowo Subianto's ambition to expand state control over the country's vast natural resources. Prabowo said last month that Indonesia would rather keep its commodities than sell them too cheaply, suggesting a desire to exert more control over global markets.