Indonesian President Prabowo Subianto announced plans to establish a new commodity exchange aimed at strengthening the nation's influence over global commodity pricing.

The initiative, reported by Bloomberg Markets, seeks to provide Indonesia with greater control over the trading of its key exports, including palm oil, nickel, and coal.

By creating a domestic trading platform, the government hopes to reduce reliance on foreign exchanges and capture more value within the local economy. The move aligns with broader efforts to assert economic sovereignty amid shifting global commodity markets.

No specific timeline was provided, but officials indicated the exchange could launch within the next two years.