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Economy in brief: Bulog to hold 2.5m tons reserve by Q3
State-owned logistics firm Bulog expects that it can maintain 2
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tate-owned logistics firm Bulog expects that it can maintain 2.5 million tons of rice reserves by the end of October to meet its public service needs.
To meet that goal, it would need around 1 million tons of rice to add to its existing stockpile of 1.5 million tons, which would be sufficient to support market operations in the next six months, president director Djarot Kusumayakti said as quoted by kontan.co.id Tuesday.
According to its plan, Bulog will purchase 500,000 tons of rice from South Sulawesi in the initial phase.
Bulog would use part of the state capital injection (PMN) totaling Rp 3
trillion (US$224.90 million) that it had already secured to absorb rice from local farmers, Djarot added.
Apart from rice, Bulog might also buy other locally-based food commodities at the government's request, Djarot said further.
