JAKARTA — Shares of crude palm oil (CPO) producers listed on the Indonesia Stock Exchange (IDX) showed mixed performance during Friday’s trading session on May 22, 2026. While several palm oil stocks recorded gains on the back of strong trading volumes, others remained stagnant or faced downward pressure throughout the day.
According to IDX Mobile data as of 12:00 PM, Astra Agro Lestari Tbk. (AALI) emerged as one of the top performers in the sector, rising 75 points or 1.15% to reach 6,600. Similarly, Triputra Agro Persada Tbk. (TAPG) saw a 1% gain, closing at 1,520, while PP London Sumatra Indonesia Tbk. (LSIP) maintained stability at the 1,295 level. Conversely, some players struggled; Sawit Sumbermas Sarana Tbk. (SSMS) slipped 1.11% to 890, and PT Tunas Baru Lampung Tbk. (TBLA) experienced a decline of 0.80%, settling at 620.
Market analysts are currently weighing the pros and cons of government plans to centralize export channels for commodities like coal and CPO. The research team at OCBC Sekuritas noted that the establishment of a state-run export agency remains a negative catalyst for the equity market. Following the announcement of this agency on Wednesday, May 20, 2026, the market shifted to a risk-off sentiment, characterized by foreign net selling exceeding IDR 500 billion. The decline was largely driven by commodity-related stocks that are expected to be directly impacted by this new government oversight.
Beyond the agricultural sector, the broader market has been affected by regulatory concerns. Government statements regarding the mandatory 10% Production Sharing Contract (PSC) allocation to local administrations for oil and gas companies contributed to a sharp decline of over 9% in MEDC shares. These sectoral pressures occur against a backdrop of macroeconomic challenges, including a weakening rupiah against the US dollar, rising global oil prices, state budget deficits, climbing Credit Default Swaps (CDS), rising bond yields, and the lingering overhang from MSCI adjustments.
Analysts at Phintraco Sekuritas corroborated this outlook, highlighting that the market has responded negatively to the government’s policy regarding the management of CPO and coal exports through PT Danantara Sumberdaya Indonesia.
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Summary
On May 22, 2026, CPO producers on the IDX showed mixed performance, with Astra Agro Lestari (AALI) and Triputra Agro Persada (TAPG) registering gains, while Sawit Sumbermas Sarana (SSMS) and PT Tunas Baru Lampung (TBLA) saw declines. This occurred amidst a broader market risk-off sentiment.
Analysts attribute this negative sentiment and significant foreign net selling to government plans for a state-run agency, PT Danantara Sumberdaya Indonesia, to centralize CPO and coal export channels. This policy is viewed as a negative catalyst for the equity market, exacerbated by other regulatory concerns and macroeconomic challenges.
