Indonesia's rice imports in March 2024 soar by 921%

Published Apr 22, 2024

Tridge summary

In March 2024, Indonesia saw a dramatic rise in rice imports, reaching 567.22 thousand tons, marking a 921.51% increase from March 2023 and a 29.29% increase from February 2024. The imports, costing US$ 371.60 million, mainly came from Vietnam, Thailand, Myanmar, Pakistan, and India. This surge is part of the Indonesian government's strategy, through Bulog, to import 3.6 million tons of rice by year-end to stabilize prices and ensure food security, making Indonesia the world's largest rice importer. The strategy aims to manage soaring rice prices through market operations, the cheap food movement, and rice aid for low-income families, influencing global rice market dynamics.

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

Original content

Jakarta, CNBC Indonesia - Indonesia imported 567.22 thousand tons of rice in March 2024, or the month during which Ramadan occurs. The value of rice imports that month reached US$ 371.60 million. The rice import volume increased by around 921.51% compared to the import volume in March 2023 or on an annual basis. Meanwhile, compared to February 2024, the volume of rice imports increased by 29.29%. "The increase is 29.29%," said Acting Head of BPS Amalia Adininggar Widyasanti during a press conference at BPS Head Office, Jakarta, Monday (22/4/2024). The majority of rice imports in March 2024 came from Vietnam amounting to 286.26 thousand tons, Thailand 142.65 thousand tons, Myanmar 76.61 thousand tons, Pakistan 61.57 thousand tons, and India 100 tons. "The country of origin for rice, the main imports come from Vietnam, Thailand and Myanmar," said Amalia. During January-March 2024, the volume of rice imports was recorded at 1.44 million tons. A jump from the same period in 2023 which ...

Source: Cnbcindonesia