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Govt has laid out a plan to import 2 million tonnes of rice in 2023 to fill the diminishing government rice reserves (CBP), but the move has sparked a backlash from farmers over concerns of declining farmgate prices.
Rice, one of the most tightly regulated commodities in the country, increased in price throughout 2022, which has industry experts asking whether the protective measures themselves could be driving inflation.
Rice prices continue to increase in the beginning of the year despite controversial late importation of rice and market intervention by the State Logistics Agency (Bulog). Learning from the persistent price increase of rice, the National Food Agency (NFA) has tasked Bulog to conduct year-long market intervention to keep prices of this politically sensitive commodity in check.
The government needs to pay close attention to 12 indicators in accordance with Law No. 18 of 2012 concerning food to avoid maladministration in deciding about rice imports following recent changes, the Indonesian Ombudsman has warned.
State Logistics Agency (Bulog), the government institution tasked with securing national staple food stocks, may face greater logistics challenges the longer the agency put off plans to seal the deal on import agreements with rice exporters.
Rice prices have been increasing lately as traders and the State Logistics Agency (Bulog) reported depleting rice stocks. The Trade Ministry approved the importation of 500,000 tonnes of rice to replenish Bulog’s stocks, however the Agriculture Ministry disagreed and argued there were enough rice stocks in the country, but that these were in the hands of farmers and traders.
The government has just added two commodities to the list of staple food commodities and assigned additional roles to the State Logistics Agency (Bulog) to help stabilize domestic supplies, but experts warn that challenges in dealing with the food-reserves supply chain would remain.
