Imports, bad weather drive down rice prices

BANYUMAS, Central Java: Rice prices in Banyumas have fallen sharply in the last few days, prompting local residents and authorities to blame the situation on the government’s decision to import rice.

“This [importing] has caused the prices to continually drop. That makes us worried because stockpiles are running out, while wholesalers are continuing to release their stocks,” National Logistics Agency official Priyono said.

Protracted heavy rainfall of late has damaged rice paddies, causing a sharp drop in supply.

Priyono said farmers were supplying 100 tons of rice per day, compared to 300 tons normally sold per day at this time of year. — JP