By Amanda Lee and Fabiana Negrin Ochoa
Indonesia is planning to tighten controls over exports of strategic natural resources, a move that could squeeze supplies of commodities such as palm oil.
The government will create an entity to centralize the sale of palm oil, coal, ferroalloys and other products, Indonesian President Prabowo Subianto said in a speech to parliament on Wednesday.
The move comes as the resource-rich Southeast Asian country, a major producer of nickel, tin and palm oil, faces mounting economic headwinds.
Like other emerging economies, Indonesia has been grappling with the fallout from the Middle East conflict, which has hammered the oil-sensitive rupiah. It is also facing concerns about government policymaking that have dimmed investor sentiment, adding further pressure on Indonesia assets.
