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Rice prices hit record high amid delayed harvest, low supply
The average price of premium rice at the consumer level reached Rp 18,000 (US$1.15) per kilogram on Friday, a 20 percent year-on-year (yoy) increase from the Rp 14,000 per kg recorded last year.
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President Joko “Jokowi” Widodo (second left) throws T-shirts to residents of Telukan village in Sukoharjo, Central Java, during a working visit to the area on Feb. 1, 2024. (Antara/Mohammad Ayudha)
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elayed harvests and dwindling supply have sent premium rice prices skyrocketing to a record high, the Indonesia Market Traders Association (IKAPPI) has said.
The average price at the consumer level reached Rp 18,000 (US$1.15) per kilogram on Friday, a 20 percent year-on-year (yoy) increase from the Rp 14,000 per kg recorded last year, IKAPPI said, adding that some of its constituent traders were unable to secure their usual quantities from producers.
The figure exceeded the government price ceiling for premium rice, which hovers around Rp 13,900 per kg for regions in Java and Bali. Premium rice is typically of much better quality than rice that is designated medium-grade.
IKAPPI secretary-general Reynaldi Sarijowan suggested that the government boost production ahead of Ramadan and ensure that subsidized fertilizer was widely available.
“The solution is releasing stocks held by the government, local companies and mills to traditional markets as well as encouraging the National Police to monitor [the process],” Reynaldi said in a statement on Friday.
National Food Agency (Bapanas) data shows that the price of premium rice was Rp 16,270 per kg a week before, on Feb. 16. Last year, the agency recorded a price of Rp 14,990 per kg.
Read also: Jokowi blames spike in rice price on climate change
