Indonesia’s Bulog aims to import up to 500,000 T rice by year-end -chief

Indonesia food procurement agency Bulog plans to import up to 500,000 tonnes of rice before the end of the year to improve reserves, CEO Budi Waseso told a parliament committee on Wednesday.

Bulog plans to procure an additional 500,000 tonnes of rice from local farmers, he said.

Indonesia aims to secure 1.2 million tonnes of rice reserves by year-end.

Arief Prasetyo Adi, chairman of the National Food Agency (Bapanas), told the same hearing with members of parliament that as of Nov. 22, Bulog’s rice reserves stood at more than 590,000 tonnes and that this could drop to 342,000 tonnes by year end if there is no new supply.

“We as Bapanas think this is very dangerous because Bulog would not be able to intervene when prices are high or if there are extraordinary circumstances,” he told the committee.

Bulog will sell rice at a low price to the market to help the government stabilise prices in the event of price surge.

This article has been republished from The Nasdaq.

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