Indonesia launches major trade takeover for key commodities

Indonesia is overhauling its trade policies for key commodities in a sudden move that some experts liken to a hostile takeover of major industries in the resource-rich nation.

Indonesian President Prabowo Subianto announced new regulations this week that will centralize exports of materials like coal, palm oil and iron alloys under a lone state-owned enterprise.

The Southeast Asian nation is a global commodities powerhouse, holding the world’s biggest nickel reserves and is the largest exporter of thermal coal and palm oil.

Analysts say its new policy will reverberate down international supply chains.

That's especially true for China, Indonesia’s largest trading partner.