30 Commodities, One Vision: Warehouse Receipts Towards Indonesia as a Global Commodity Price Determiner

15 Jan 2026

During harvest season, farmers and commodity businesses face the same challenge: selling their produce directly for profit. However, selling during times of abundant supply often leads to lower prices. Therefore, the government developed the Warehouse Receipt System (WRS) as an instrument to help businesses manage commodities. This was achieved through Law No. 9 of 2011 concerning amendments to Law No. 9 of 2006, which provides legal certainty and governance regarding the SRG.

The SRG is a system that regulates the issuance, guarantee, and settlement of warehouse receipt transactions. A warehouse receipt is a document or document proving ownership of goods stored in a registered warehouse and is issued by a warehouse manager approved by the regulator. Through this system, commodity owners do not have to immediately sell their produce when market prices are low but can store it while still gaining economic benefits, including access to financing secured by the SRG. The SRG also supports the availability of a national commodity production and consumption database, helps maintain price stability, reduces business dependence on informal financing, and provides better opportunities for planning commodity production and distribution. (PT Kliring Berjangka Indonesia, 2024)

In 2026, the government again expanded the scope of commodities eligible for SRG storage. This regulation added several new commodities, bringing the total to 30 commodities that can be stored in SRG warehouses. The 30 commodities currently eligible for storage in WRS include unhulled rice, rice, corn, coffee, cocoa, pepper, rubber, seaweed, rattan, salt, gambier, tea, copra, tin, shallots, fish, nutmeg, frozen chicken carcasses, white crystal sugar, soybeans, tobacco, cinnamon, agar, carrageenan, mocaf, betel nut, tapioca, smoked fish, wooden fish, and cloves. The wider variety of commodities that can be stored, the greater the opportunity for businesses to adjust sales strategies, maintain product quality, and obtain more flexible access to funding.

This expansion of the number of commodities actually signals something much greater than simply adding to the list. WRS is slowly transforming from a seasonal warehousing program into a national financial infrastructure that bridges the real and financial sectors. Commodities stored in the Warehouse Receipt System (SRG) warehouse are no longer merely physical goods, but economic assets that can be used as collateral for financing, strengthening food security through a supply buffer, and paving the way for integration with futures trading and capital markets through instruments such as commodity bonds, asset-backed securities, and commodity-based Exchange Traded Funds.

With such enormous potential, the WRS can no longer be viewed as merely a short-term solution for farmers during the peak harvest season. By building integration between the Warehouse Receipt System (SRG), warehouse management companies, commodity futures trading, capital markets, banking, logistics, and national industry, Indonesia has a significant opportunity to make a historic leap. The SRG is the foundation for Indonesia's major leap—from a country that has been merely a producer and price taker to a country that helps determine the direction of trade and the formation of global commodity prices (price maker).

Each warehouse receipt issued today is a small step toward that grand vision: making Indonesia a center for global commodity trading, financing, and price formation, in line with the ideals of Indonesia Emas 2045.