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Indonesia Hands Danantara $65B Coal, Palm Oil Exports

5/24/2026

Summary

Story summary

President Prabowo Subianto announced on May 23, 2026 that Danantara Sumberdaya Indonesia will control coal, palm oil and iron-alloy exports.
Danantara, backed by a sovereign-wealth fund, aims to raise tax revenue, stop a $150 billion loss and handle $65 billion of exports annually, requiring large working capital.
Traders warn the shift could disrupt Chinese contracts and raise costs through 2027.
Analysts say building a Glencore-style exporter quickly is difficult after bidders withdrew.

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Story summary

President Prabowo Subianto announced on May 23, 2026 that Danantara Sumberdaya Indonesia will control coal, palm oil and iron-alloy exports.
Danantara, backed by a sovereign-wealth fund, aims to raise tax revenue, stop a $150 billion loss and handle $65 billion of exports annually, requiring large working capital.
Traders warn the shift could disrupt Chinese contracts and raise costs through 2027.
Analysts say building a Glencore-style exporter quickly is difficult after bidders withdrew.