May 29, 2026 | 08:02 am
Illustration of oil palm plantation. shutterstock
TEMPO.CO, Jakarta - Three companies in Indonesia’s palm oil industry said they are still waiting for implementing regulations following the government’s issuance of a new policy on natural resource export governance, which appoints PT Danantara Sumberdaya Indonesia (DSI) as the sole exporter of palm oil, coal, and ferroalloy commodities.“The company is still waiting for the issuance of the Government Regulation on the Governance of Natural Resource Exports and its implementing regulations, so we cannot yet determine the impact of the policy or formulate mitigation strategies,” Corporate Secretary of PT Salim Ivomas Pratama Tbk. (SIMP), Meyke Ayuningrum, said in a disclosure to the Indonesia Stock Exchange (IDX) on Tuesday, May 26, 2026.Similar statements were also issued by PT PP London Sumatra Indonesia Tbk. (LSPP) and PT Sinar Mas Agro Resources and Technology Tbk. (SMAR) through disclosures to the IDX. The three companies, which export processed palm oil products, said they were still awaiting details of the new regulation.SMAR Deputy Chief Executive Officer Gianto Widjaja said the company would first study the policy comprehensively before taking further steps. After the implementing regulations are issued, management will prepare the necessary adjustments.“And maintain the company’s long-term sustainability,” Gianto said.President Prabowo Subianto previously introduced the single-door export policy through a state-controlled export body during a plenary session at the parliament complex in Jakarta on May 20, 2026. PT DSI was later established as a state-owned enterprise tasked with handling exports of the three commodities.“In other words, the proceeds from each export sale will be distributed by the state-owned enterprise appointed by the government to the business actors managing the operations. This can be seen as a marketing facility,” Prabowo said.Read: Why Export Proceeds Rules Do Not Automatically Boost Foreign Exchange Reserves
