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Bulog to absorb 3.2m tons of local rice next year
The State Logistics Agency (Bulog) says it will receive 3
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T
he State Logistics Agency (Bulog) says it will receive 3.2 million tons of rice from local farmers next year, similar to this year's target, to maintain its stockpiles.
This would form part of efforts to control 2 million tons of rice reserves by the end of next year as assigned 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 secured nearly 2.4 million tons of rice locally out of 3.2 million tons targeted for this year. The lower-than-expected purchase is attributed to smaller rice output estimated for 2014.
To compensate for this shortfall, Bulog has imported 425,000 tons of rice from Thailand and Vietnam throughout the year.
Soetarto said that at present its rice inventories totaled around 1.6 million tons, while the government's reserve kept by Bulog amounted to 310,000 tons and joint stocks of 1.91 million tons would be sufficient for distribution in seven months in normal conditions.
