The proposal has drawn pushback from a farmers’ association, which says the current global price surge is a rare opportunity to maximize profits after years of depressed returns.

Record-high yields in the first four months of the year has helped expand the national rice reserve from 1.7 million to 3.5 million tonnes, inadvertently leading to a shortage of storage facilities but also creating an export opportunity.

Indonesia is looking to strengthen local currency usage in partnership with multilateral development banks (MDBs) amid global economic challenges and to support sustainable development.

This practice has pushed several miners out of business, according to the association, while others that have remained operational either have the large-scale capacity to do so or are simply operating to keep equipment running and preserve jobs.

Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water in thin trade with major markets closed.

The dollar was losing ground again on Monday as a meteoric surge in its Taiwanese counterpart spilled over elsewhere, fueling speculation some Asian countries were prepared to engineer revaluations to win US trade concessions.

OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand.

Asian stock markets and US futures rose on Friday as signs of possible trade talks between the US and China lifted risk sentiment after lacklustre earnings from tech bellwethers Apple and Amazon fueled worries about the impact of tariffs.

While the transport minister has urged local airliners to look at buying rejected Boeing jets as an opportunity for fleet expansion, industry association INACA has called for a collected, practical stance in view of regulatory, certification and other established processes.

Asian stock markets headed for a second straight week of gains on Friday and the dollar for its first weekly rise in more than a month as investors have welcomed an apparent softening of the White House stance on China, despite no signal of detente.

The move came after the country’s stock market and currency emerged as one of Asia’s worst-performing this year amid uncertainties due to the US' wide-sweeping tariffs and concerns over the country’s fiscal policy.

"The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector," Nicolai Tangen, head of the Norwegian sovereign fund, said in a statement.

The de-escalation drew an immediate thumbs up from Wall Street, as equity index futures jumped by nearly 2 percent on the resumption of trading on Tuesday evening.

Public Housing and Settlements Minister Fahri Hamzah said the backlog, which measures the gap between home demand and existing ownership, is estimated to have increased to 15 million from the previous 9.9 million to 12 million units in the past two years.  

Agriculture Minister Andi Amran Sulaiman said Indonesia cannot export rice to Malaysia to maintain domestic rice stocks.

The government has vowed to trade with China as usual after Beijing warned other countries against striking tariff deals with the United States at China’s expense.

Gold prices hit a fresh record on Monday while the dollar tumbled further along with Wall Street equities as President Donald Trump again slammed Federal Reserve Chair Jerome Powell.

LPG is the primary cooking fuel for households across the country and Indonesia largely relies on imports of the commodity to meet domestic demand.

Gold prices hit a fresh record Monday while the dollar weakened further and stocks were mixed amid worries about Donald Trump's tariff blitz and bubbling row with the Federal Reserve.

Earlier this year, Industry Minister Agus Gumiwang Kartasasmita floated a proposal urging car manufacturers to lower new vehicle prices in a bid to reignite demand. 

The talks between Ryosei Akazawa and President Donald Trump and other senior US officials were closely watched as a barometer for Washington's negotiations with other countries reeling from US tariffs

A new incentive targeting hydrogen-powered cars might be on the books as the government considers options on how to absorb PLN's excess supply of the gas, which could help fuel Indonesia's energy transition.

Danantara chief investment officer Pandu Sjahrir said on Monday that the fund is ready to become a “liquidity provider” to Indonesia’s capital market.

Continuing jitters about US tariffs hit Asian stocks in early trade on Friday, with Japan's Nikkei tumbling more than 5 percent and gold hitting another record high.

China's yuan on Thursday fell to its lowest value against the US dollar since the global financial crisis, with the central bank cutting guidance for the sixth successive trading session against a backdrop of intensifying Sino-US trade tension.

Chinese stocks found some footing on Wednesday as state pledges to support the local market and surging interest in domestic tech firms softened the blow to sentiment from the 104 percent tariffs imposed by the US on Chinese goods.

The United States said on Tuesday that 104 percent duties on imports from China will take effect shortly after midnight, even as the administration of President Donald Trump moved to quickly start talks with other trading partners targeted by sweeping tariffs.

Asia stocks bounced off 1-1/2 year lows, European shares opened broadly higher and US stock futures pointed to a positive open for Wall Street where shares fell to their lowest in over a year on Monday, before steadying.

Both buyers and exporters of Indonesian shrimps are waiting for the negotiation result between Indonesia’s government and the Trump administration.

Just before trading resumed after the holiday break, the local bourse adapted its circuit breaker rules, first introduced during the COVID-19 crisis, to better accommodate current volatility.