Indonesia launches corn price stabilization program

Indonesia’s National Food Agency (Bapanas) has announced the launch of the Corn Price Stabilization Program (SPHP) to support egg and meat poultry producers. The initiative will distribute 52.4 thousand tons of corn. According to Bapanas head Arifa Prastyo Adi, the subsidized corn will be sold at a price of 0.37 USD/kg, with the state compensating the difference. “The affordable cost of feed will stabilize egg prices and, as a result, keep the cost of chicken meat under control,” Adi said. He expressed confidence that the program will ensure sustainable egg production by the end of this year. The measures were taken against the backdrop of protests by poultry farmers in the city of Solo, where farmers expressed dissatisfaction with the sharp increase in the price of corn for feed. According to them, price jumps are caused by speculation and manipulation ...