Indonesia to "listen to the market" opinions to establish a new export commodities agency.

Indonesian Sovereign Wealth Fund Dana Tanatra's Chief Investment Officer Pandu Shakiril said that a sudden announcement this week has left traders and producers confused, as Indonesia is currently in the process of establishing a key bulk commodities export agency and is closely listening to opinions from all market participants. This week, President Prabowo Subianto introduced a radical plan to centralize the export business of palm oil, coal, and nickel under state-owned institutions, with Dana Tanatra responsible for management, a move that even caught several senior government officials off guard. Shakiril said in an interview: "The establishment of this agency aims to enhance trade transparency, accountability, and product traceability, while policies must also be in line with market principles. We are actively seeking opinions from industry practitioners and the market, aiming to benefit both producers and related shareholders." He addressed the widespread doubts in the market, stating that investors are still digesting the news. The policy will initially focus on Indonesia's two main export commodities - coal and crude palm oil, with specific details to be gradually announced in the coming weeks. He emphasized: "It is necessary to clearly define the functional boundaries, as this agency is only an operational entity, not a regulatory body." The agency will recruit top talents in the industry to operate and will conduct business in accordance with mature governance standards. Shakiril revealed that the agency is expected to be fully operational in early January of the following year.