ferroalloys

Indonesia lost nearly US$1 trillion in resource wealth over 34 years due to deceptive trade practices, according to President Prabowo Subianto. New export controls require foreign-exchange earnings to be locked in Indonesian banks and producers of coal, palm oil, and ferroalloys to route sales through a state-owned enterprise.

Indonesia’s Trade Vice Minister Dyah Roro Esti Widya Putri announced the government is finalizing a centralized export agency for palm oil, coal, and ferroalloys. The plan is progressing despite policy shifts that have unsettled investors, as stated during a Bloomberg interview at the APEC summit in China.

Indonesian President Prabowo Subianto has announced a major economic intervention to centralize exports of strategic commodities including palm oil, coal, and ferroalloys through a state-controlled structure linked to the sovereign fund Danantara. The government claims this move will recover hundreds of billions of dollars previously lost to Indonesia.

Indonesia's President Prabowo Subianto announced a new policy requiring exports of palm oil, coal, and ferroalloys to pass through a state-appointed enterprise. The measure aims to reduce revenue leaks, increase oversight of natural resources, and retain more foreign exchange earnings domestically.