Indonesia’s Prabowo tightens state grip on palm oil, coal amid monopolistic fears

President Prabowo Subianto of Indonesia has announced a new policy requiring exports of key commodities, including palm oil, coal, and ferroalloys, to be channeled through a state-appointed enterprise. This measure, detailed in a recent parliamentary address, aims to curb revenue leaks, enhance oversight of natural resources, and retain more foreign exchange earnings within the country. Under the regulation, producers will sell their commodities to the new state-run agency, which will then handle all international transactions, thereby ending direct overseas sales by private companies. This policy affects three of Indonesia's major export earners.