Indonesia Sees Surge in Rice Imports, Strives to Boost Stockpiles
Indonesia experienced a significant increase in rice imports during the first eight months of this year compared to the same period last year, according to the statistics agency. The country, Southeast Asia’s largest economy, aims to enhance its stocks of the staple commodity. The global rice prices hit a 15-year high after India, the top producer, announced a ban on exports of non-basmati rice in July, citing reasons like soaring domestic prices and extreme climatic conditions. In the first eight months of this year, Indonesia imported 1.59 million tons of rice, while the total rice imports for 2022 reached more than 429,000 tons.
Statistics Indonesia head Amalia Adininggar Widyasanti stated that rice imports from January to August 2023 witnessed a significant increase compared to the same period last year, without disclosing the import figure for the previous year. Most rice imports came from neighboring Southeast Asian countries, with Thailand exporting 802,000 tons and Vietnam exporting 674,000 tons of rice during this period. The government had set an import quota of 2.3 million tons of rice this year to maintain price stability due to expected disruptions in rice production caused by the El Nino weather pattern. However, rice imports faced complications due to import restrictions imposed by other countries, including India, according to President Joko Widodo.
President Widodo has ordered the state-owned logistics company Bulog to release its reserve stocks to the market to reduce rice prices. As of Friday, the nationwide average price of rice stood at 14,490 rupiah ($0.94), marking a 16 percent increase compared to the same period last year, according to data from the National Food Agency.
The surge in rice imports highlights Indonesia’s efforts to bolster its stocks and ensure price stability amidst external factors affecting global rice production and prices.
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
