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View all search resultsBulog to absorb 3.2 million tons of local rice next year
State-owned logistics agency Bulog has said that it will absorb 3
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S
tate-owned logistics agency Bulog has said that it will absorb 3.2 million tons of rice from local farmers next year, similar to the target this year, to maintain its stockpiles.
The targets are part of efforts to reach 2 million tons of rice reserves by the end of next year, as instructed by the government, Bulog president director Soetarto Alimoeso said during the national working meeting of the Agriculture Ministry on Monday.
As of November, the firm had secured nearly 2.4 million tons of rice locally, out of 3.2 million tons targeted for the year. The lower-than-expected purchase is attributed to the smaller rice output predicted for 2014.
To compensate this shortfall, Bulog has imported 425,000 tons of rice from Thailand and Vietnam throughout the year.
Soetarto said that at present, Bulog's rice inventories totaled around 1.6 million tons, while the government reserve kept by Bulog amounted to 310,000 tons, and that the joint stocks of 1.91 million tons would be sufficient for seven months of distribution in normal conditions.(+++)
