Jakarta. The Indonesian government is reportedly preparing to establish a special export agency that would manage shipments of several commodities, a plan that has sparked concern among investors and exporters.

Finance Minister Purbaya Yudhi Sadewa said he was not yet aware of the details of the proposal and asked the public to wait for an official announcement from President Prabowo Subianto.

“I don’t know yet. The president will announce it later,” Purbaya told reporters at the Finance Ministry office in Jakarta on Tuesday.

The proposed agency has become a major topic of discussion among business groups, economists, and financial markets in recent days.

According to circulating reports, the institution would act as a centralized buyer of strategic commodities from domestic exporters before selling them to international markets.

The agency is expected to consolidate exports of several of Indonesia’s major commodities, including coal, crude palm oil (CPO), and minerals.

Under the proposed mechanism, exporters would no longer sell commodities directly to overseas buyers. Instead, all exports would reportedly be routed through a government-appointed entity.

However, the government has not yet provided official details regarding the agency’s structure, operational mechanism, or the list of commodities that would fall under its control.

It also remains unclear whether the institution would be managed by Indonesia’s sovereign wealth fund, Danantara.

Market speculation suggests the initiative is linked to the government’s efforts to curb under-invoicing practices in commodity exports, where exporters report lower export values than actual transaction prices.

Authorities believe the practice may reduce state revenues from taxes, royalties, and export proceeds.

The proposal has also drawn attention from investors because it could significantly alter Indonesia’s commodity trading system, particularly if exporters are no longer allowed to conduct direct overseas sales.

Reports circulating in the market suggest President Prabowo could announce the plan during his speech on the government’s macroeconomic framework and fiscal policy direction for the 2027 state budget at parliament on Wednesday.

The speculation contributed to a sharp selloff in commodity-related shares on the Indonesia Stock Exchange on Tuesday.

Among the hardest-hit stocks were Bumi Resources, which fell 9.71%, Dharma Satya Nusantara down 15%, Triputra Agro Persada down 14.97%, Indika Energy down 14.69%, Nickel Industries down 12.12%, Merdeka Battery Materials down 11.85%, and Amman Mineral Internasional down 8.12%.

BRI Danareksa Sekuritas said one of the main triggers behind the market decline was the rumor of a single-channel export policy managed through a state entity.

The brokerage said the proposal raised concerns over possible price controls and pressure on exporters’ profit margins, weighing heavily on commodity-linked stocks.

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