Indonesia Plans to Tighten State Control Over Commodity Exports

Indonesia plans to tighten control over commodity exports including coal and palm oil, according to people familiar with the matter, as the government seeks to clamp down on tax evasion and bolster a plunging rupiah.

The government is planning to create a new state entity to manage exports of the commodities in order to crack down on under-invoicing, according to the people. The agency would be supervised by Danantara, the sovereign wealth fund that reports directly to President Prabowo Subianto, and could be announced by the president as soon as Wednesday, they said.