Indonesia targets strategic commodities exchange launch in 2027

President Prabowo Subianto has targeted the launch of Indonesia's Strategic Minerals and Commodities Exchange (BMKS) on January 1, 2027, as part of efforts to establish domestic reference prices for major export commodities.

Prabowo said the exchange will operate under the supervision of the Financial Services Authority (OJK). The government is targeting the issuance of regulations governing BMKS by September 17, 2026, following discussions with the House of Representatives.

The planned exchange is intended to establish an Indonesia Reference Price for major Indonesian export commodities. Prabowo cited commodities including palm oil, nickel, tin, coal, gold, coffee and rubber.

"With this, we will build an Indonesia Reference Price, the reference price of Indonesia, for Indonesia's major export commodities," Prabowo said while delivering the 2027 state budget bill and financial note at the House of Representatives on Friday.

Prabowo said Indonesia has remained a major global producer of commodities but that prices for its commodities are often determined through overseas commodity exchanges.

The government expects BMKS to provide a deeper, transparent and liquid market bringing producers, farmers, exporters, buyers and investors into a supervised trading system with greater transaction data transparency.

The exchange is also intended to reduce opportunities for manipulation in commodity trading, according to Prabowo.

The planned BMKS follows the government's development of a single-window export policy and discussions with OJK, he said.

Prabowo said the government wants Indonesia to move beyond its role as a commodity producer and participate more directly in price formation in global commodity markets.

Editing by Alexander Ginting