Jakarta - Indonesian President Prabowo Subianto on Wednesday, 20 May 2026 made a strong comment on global rules regarding commodities prices measurement, refusing prices of top global products form Indonesia to be set by other countries, but producer countries.
"We feel strange. We are the world largest palm oil producer, but the palm oil prices are determined by other country. I told my ministers, this cannot be happened. I don't want our palm oil prices are determined by other nation. We determine our (commodities) prices. And if they don't want to purchase it with our prices, no need to buy it. We can use our palm (products) alone," President Prabowo stated.
Not only palm oil prices, but other commodities prices such as nickel, gold, and other natural resources' prices must be set by Indonesia, President Prabowo said.
Therefore, in that occasion, President Prabowo requested the House of Representatives assistance to fulfill the ideas and plans.
Indonesian will also set its natural resources commodities' exports through a sole state-owned enterprise (SOE) to prevent under invoicing.***
