There are signs that rice prices will fall in Indonesia

Published 2024년 4월 1일

Tridge summary

In March 2024, Indonesia witnessed a deceleration in the rise of rice prices, attributed to the commencement of the major harvest season, as reported by the Central Statistics Agency (BPS). The Acting Head of BPS, Amalia Adininggar Widyasanti, noted that rice experienced a monthly inflation rate of 2.06%, contributing to an overall inflation of 0.52% for the month. The past year's fluctuations in rice prices were linked to delayed planting periods, an extended dry season due to El Nino, and global discussions on rice exports. The onset of the main harvest in March 2024 led to a reduction in inflationary pressures on rice, resulting in lower milling level prices, although retail prices slightly increased.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Jakarta, CNBC Indonesia-The Central Statistics Agency (BPS) noted that the increase in rice prices began to slow down in March 2024. This occurred as a result of the arrival of the big harvest in Indonesia. Acting Head of BPS Amalia Adininggar Widyasanti said that in March 2024 rice experienced monthly inflation of 2.06%. This figure contributed 0.09% of general inflation in March of 0.52%. "The postponement of the planting period followed by the harvest period has an impact on the formation of rice prices," said Amalia in a press conference at her office, Jakarta, Monday (1/4/2024). Amalia said that in the early period of 2023, rice experienced 3 quite high monthly (mtm) price spikes. The increase was recorded to occur in January-March 2023. Amalia continued that during the period April 2023 to March 2024, rice recorded high increases 4 times. The increase was triggered by the long dry season due to El Nino and discussions about rice exports in a number of countries. "This also ...

Source: Cnbcindonesia