JFX CEO Pushes for Strengthening Price Discovery in Indonesian Commodity Trading

Jakarta's JFX CEO Yazid Kanca Surya emphasized that strengthening price discovery is crucial for Indonesia to build domestic commodity reference prices. As a major producer of palm oil, Indonesia has a strategic position to establish more credible domestic reference prices through transparent and sustainable trading activities.

The President Director of PT Bursa Berjangka Jakarta (JFX) stated that strong reference prices are not born from unilateral determination but from transactions that truly reflect the interaction between supply and demand in the market. He added that active trading activities, including standardized contracts and transparent recording, contribute to forming representative prices.

The example of palm oil trading is given, where the global benchmark price increased by 3.52% in the last week of July 2026 due to factors such as Brent crude oil prices, demand from China, and expectations of tighter Indonesian palm oil supplies. Trading activity for Olein at JFX showed maintained liquidity with a volume of 67,564 lots and a transaction value of around IDR 6.85 trillion.

Yazid noted that the volatility of global commodity prices makes business actors face increasing uncertainty, and reliable price references are essential for formulating sales strategies and managing risk.