Bulog will supply a higher quantity of rice to the market than its regular monthly distribution in order to slash prices. President Joko Widodo gave the company the go-ahead to supply 400,000 tons of rice to the market this month. Bulog President Director Djarot Kusumayakti said the figure was much higher than its usual monthly supply which ranged between 120,000-150,000 tons. According to BPS, premium rice price increase by 20% to Rp10,382/kg from previous year, while cost of medium- and low-quality rice rose by 13% and 16% respectively to Rp10,251 and Rp9,987/kg respectively. Rice was the biggest contributor to inflation in the first two months of this year. Djarot added the bulk supply was expected to experience a further hike and Bulog would carry out market operations soon. Coordinating Economic Ministry Darmin Nasution said the agency has stockpiles of around 700,000 tons, excluding 281,000 tons sourced from imports.
Bulog to increase rice supply, lower price
March 12, 2018 News