JAKARTA LIFE'S STYLE
The Trade Ministry has reported that realization of Indonesia’s rice imports in the 2010 - March 2, 2011 period reached 1,262,335 tons or 66.5 percent of the total value of Indonesia’s rice trade contracts.Based on the report which was published by the trade ministry here on Wednesday, the volume of Indonesia’s rice trade contracts with overseas exporters for 2010-2011 stood at 1,898,000 tons.
In February 2011, the realization of rice imports reached 356,545 tons. The government allowed state-owned logistics agency Bulog to import rice in an effort to maintain national rice stocks and rice price stability at home.
In an effort to control price stability, Bulog among others distributed subsidized rice to target house holds which were included in the Rice for the Poor (Raskin) scheme and launched rice market operations. Up to March 2 2011, the government has distributed 447,807 tons of subsidized rice from 788,913 tons that would be provided in the January - March 2011 period.
The volumes of rice that has been channeled through market operations totaled 97,862 tons. According to Trade Minister Elka Pangestu, the rice price at present has begun to go down because imported rice has arrived while Bulog has begun to procure rice domestically as harvests had begun in a number of regions in the country.
The ministry’s data indicated that the national average price of rice for medium quality on Wednesday was Rp7,297 per kg, declining from Rp7,302 per kg previously. The average price of medium quality rice in February 2010 was Rp6,419 per kg and in March 2010 was Rp6,318 per kg.
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