News

With just 1.6 million tons of reserves, a Southeast Asian country is 'feverish' because the price of this agricultural product has increased rapidly.

Rice
Market & Price Trends
Innovation & Technology
Published Feb 22, 2024

Tridge summary

Rising rice prices and dwindling supplies are causing concern across Asia, particularly in India, the Philippines, and Indonesia. In response, the Indonesian Government is increasing its rice reserves, buying an additional 400,000 tons, and implementing a subsidy program for low-income households. Meanwhile, in Vietnam, rice prices have also increased in several provinces, including Hau Giang, Tien Giang, and An Giang. The situation is exacerbated by factors such as India's ban on non-basmati white rice exports and adverse weather conditions affecting rice output.
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

Scarce supply and rising rice prices are becoming a "headache" for the governments of many Asian countries such as India, the Philippines, and Indonesia. One of the measures to control rising rice prices is to ensure sufficient rice reserves. Currently, the Indonesian National Logistics Agency (Bulog) has stored 1.6 million tons of rice. This number will continue to increase because the Indonesian Government is buying an additional 400,000 tons of rice. In addition, the Indonesian Government is also implementing a social assistance program with the distribution of 30 kg of rice to each family starting from September 2023 to November 2024. This program aims to subsidize rice for 21.3 million low-income households to ensure purchasing power for these groups. The government is also actively negotiating with trade partner countries in the region on rice imports. Previously, Indonesian President Joko Widodo highlighted concerns about the increase in rice prices on the market (about ...
Source: Danviet
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