Indonesia: Aptindo claims wheat flour industry not affected by weakening Rupiah

Published Oct 12, 2023

Tridge summary

The Indonesian Flour Producers Association (Aptindo) has claimed that the recent increase in exchange rates has not had a significant impact on the wheat flour industry. Instead, they are highlighting the potential negative effects of the El Nino phenomenon on harvest and production. Aptindo's Executive Director, Ratna Sari Loppies, explained that the stability of flour prices in the market is more influential than exchange rates, and that the industry is more concerned about the threat to food security posed by climate change.

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Original content

Reporter: Diki Mardiansyah | Editor: Anna Suci Perwitasari KONTAN.CO.ID - JAKARTA. The Indonesian Flour Producers Association (Aptindo) claims that the wheat flour industry has not been significantly impacted by the recent increase in exchange rates. Aptindo is currently highlighting the El Nino issue which will affect harvest and production. As is known, the trend of weakening of the rupiah continues, the El Nino phenomenon and the policy of restricting product imports via e-commerce are problems faced by business people. Just so you know, the rupiah was still perched at Rp. 15,700 per US dollar on Thursday (12/10). This trend of weakening of the rupiah is quite deep considering that in April-June the rupiah exchange rate moved below the level of IDR 15,000 per US dollar. Aptindo Executive Director, Ratna Sari Loppies said, in the flour mill industry the increase in exchange rates does not have much of an impact as long as the stability of flour prices in the market is maintained ...

Source: Kontan