Indonesia Considers Sanctioning 10 Palm Oil Companies For Trade Invoice Manipulation
26/05/2026 (Business Today) - Indonesia’s Finance Minister Purbaya Yudhi Sadewa is considering imposing sanctions against 10 companies suspected of committing trade misinvoicing.
“We will see what the best (sanctions) are. But we will not close those companies. They must pay their dues as determined later after the investigation,” Purbaya said here on Tuesday.
An initial investigation to uncover these export-import manipulations is being carried out by the Finance Ministry, along with the Financial and Development Supervisory Agency (BPKP) and the Attorney General’s Office.
So far, the government has investigated 20 companies—with a primary focus on 10 large companies, all operating in the crude palm oil (CPO) industry.
Purbaya said the modus operandi of the 10 companies generally involved manipulating export values through trading companies in Singapore.
They reported export values lower than the actual selling price in the destination country. This finding was obtained from analysing export data with data from export destination countries, he noted.
“We examined 20 companies, including some smaller ones. We focused on the larger ones, and all of them did the same, those 10. So, if the larger ones do the same, the smaller ones probably do the same,” he said.