JAKARTA: The success of Indonesia’s plan to launch a commodity exchange will hinge on whether it can build a credible benchmark and persuade producers and traders to use it, experts say.
The exchange, which is set to launch on Jan 1, aims to have greater influence over prices of key exports such as nickel products, palm oil and coal.
The plan, announced by President Prabowo Subianto in his 2027 budget speech to parliament on Aug 14, received a thunderous response from lawmakers.
“For decades, Indonesia has become one of the largest producers of some of the world’s most essential commodities,” Prabowo told the lawmakers.
“Yet all too often, the…
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