Indonesia's rice reserve is enough for 65 days, but Bapanam admits prices are still high

Rice

Indonesia

Market & Price Trends

Published Mar 27, 2024

Tridge summary

The National Food Agency (Bapanas) of Indonesia has confirmed that the country's food reserves are secure until at least April 2024, with corn having the longest reserve duration of 111 days, and purebred chicken eggs and garlic having the shortest at 8 and 9 days respectively. Rice reserves are expected to last for about 65 days. Despite this, there's a need for imported soybeans, beef-buffalo meat, and sugar to meet domestic demands. Meanwhile, the prices of grain have decreased as of March 22, 2024, with both farmer and mill levels seeing a drop, and retail rice prices also declining. However, the monthly average prices for March 2024 are still significantly higher than the previous year, indicating an overall increase in rice prices over the year.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Jakarta, CNBC Indonesia - The National Food Agency (Bapanas) stated that domestic food stocks are still in safe condition. Although it is acknowledged, some commodities require imported supplies. This was conveyed by the Main Secretary of Bapanas Sarwo Edhy during the 2024 Regional Inflation Control Coordination Meeting, Monday (25/3/2024). During the meeting, Sarwo Edhy explained the national food balance sheet for the period January-April 2024. The data shows that the resilience of reserves for a number of basic and strategic food ingredients ranges from 8-111 days. The reserve resilience period starts at the end of April 2024. Calculated based on the estimated final stock as of April 2024 divided by national daily/monthly requirements. From this data, it can be seen that the food reserve that lasts the longest is corn, reaching 111 days. Meanwhile, the shortest are purebred chicken eggs (8 days) and garlic (9 days). Meanwhile, the resilience of rice reserves as of the end of ...

Source: Cnbcindonesia