Rice prices soar in Indonesia, Ministry of Trade says they have coordinated with retailers
Regulation & Compliances
Market & Price Trends
Published Feb 12, 2024
The price of rice in Indonesia's modern retail outlets is currently 25% above the government-set highest retail price (HET), despite efforts to maintain price stability. The Indonesian Retail Entrepreneurs Association (Aprindo) explains this is due to producers increasing their prices by 20-35% above the HET, forcing retailers to sell basic commodities like rice, sugar, and cooking oil at higher prices.
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REPUBLIKA.CO.ID, JAKARTA -- The price of rice in modern retail outlets is currently priced 25 percent above the highest retail price (HET). Director General of Domestic Trade at the Ministry of Trade, Isy Karim, said the government had coordinated with the Indonesian Retail Entrepreneurs Association (Aprindo) to maintain price stability. "We have communicated with Aprindo," said Isy to Republika, Sunday (11/2/2024). Even so, Isy said, this communication was only an advisory. The rice price stabilization policy is now in place at the National Food Agency (Bapanas) and the Food Task Force. "However, considering that the price stabilization policy has been delegated to Bapanas, policy steps are coordinated with Bapanas and related Ministries/Institutions, including the Food Task Force," added Isy. The Indonesian Retail Entrepreneurs Association (Aprindo) said that retailers were forced to sell basic commodities such as rice, sugar and cooking oil above the highest retail price (HET) ...