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Indonesia to Tighten Grip on Commodity Exports, Rattling Markets

Indonesia is moving to centralize control over commodity exports including coal, palm oil and nickel. The government seeks to combat tax evasion and stabilize its weakening currency. The plan triggered a second consecutive day of losses in Indonesian equity markets, with investors concerned about reduced profitability in key export sectors and expanded state intervention in the economy. Palm oil and coal stocks fell sharply on the announcement. The broader initiative reflects Jakarta's effort to manage capital outflows and strengthen the rupiah amid currency pressures. Nickel prices rose on supply concerns tied to Indonesia's status as the world's top producer of the metal. The export control measures could reshape how Southeast Asia's largest economy manages its most valuable commodities.