IBC Business Talk Explores Indonesia’s Commodity Price Discovery Framework

On 16 September 2026, IBC brought together members and industry representatives to discuss the development of Indonesia’s Commodity Exchange Market, or BMKS, and its implications for businesses.

The discussion highlighted that BMKS is expected to be implemented gradually, with operations targeted to begin in January 2027. Tin and ferronickel are among the commodities considered relatively more prepared for the initial stage, while broader participation is expected to expand as market infrastructure and supporting ecosystems develop.

A credible commodity benchmark will require more than Indonesia’s production scale. Active participation from domestic and international buyers, sufficient liquidity, genuine market demand, and sustained market acceptance will be critical to effective price discovery.

Participants also discussed the importance of end-to-end market readiness, covering product standards, clearing, settlement, warehousing, data systems, logistics, and transaction recording. Existing bilateral and long-term transactions are expected to remain relevant during the transition.

The discussion underscored the importance of positioning BMKS as a market-based instrument, supported by clear rules and strong market integrity, while allowing prices to reflect actual supply and demand.

IBC will continue facilitating constructive dialogue and channeling practical business perspectives as the framework develops.