Commodity supercycle could spell good news for Indonesia

Primary commodity: Coal is discharged from a barge at the Suralaya coal-fired power plant in Cilegon, Banten, on Sept. 22. Coal producers are currently enjoying a rise in the price of the commodity as a result of pent-up demand.(AFP/Ronald Siagian)

Prices of numerous commodities have been holding near record highs, prompting some to proclaim a new supercycle for the asset class, but others believe the soaring prices are a temporary phenomenon. The Bloomberg Commodity Spot Index, which tracks 23 energy, metal and crop future contracts, reached a new high in October, exceeding its 2011 peak. Meanwhile, the S&P GSCI index, a benchmark for commodity markets and measure of commodity performance, this month reached its highest point since 2014.

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