The Indonesian government is preparing a new export governance policy requiring strategic commodities like palm oil, coal, and ferroalloy to be exported through state-owned enterprises (BUMN) as sole exporters. This move is intended to stabilize the rupiah by ensuring foreign exchange from exports is properly managed, while also curbing practices such as under-invoicing and transfer pricing. Hernowo, Commercial Director of Krakatau Steel, emphasized that this policy is crucial for the steel industry, which still relies on imported raw materials with higher iron content (75–80%) compared to domestic ore (58–62%). Because of this dependency, exchange rate fluctuations significantly affect production costs. At the same time, Hernowo highlighted the strong growth potential of Indonesia’s steel industry, given that domestic steel consumption remains low at 65–66 kilograms per capita annually, far below Malaysia’s 150 kilograms. He sees this gap as an opportunity for expansion, noting that higher steel consumption often reflects a country’s economic progress. With many foreign producers, especially from China, entering the Indonesian market, Hernowo called for stronger collaboration between industry players and the government to enhance competitiveness and secure long-term growth.Source: https://ekonomi.bisnis.com/read/20260523/257/1975900/tata-kelola-ekspor-baru-diyakini-perkuat-rupiah-industri-baja-nasional (ICE GIACARTA)

Fonte notizia: Bisnis.com, 23 May 2026