Indonesia Raises Rice Import Duty

The Indonesian government has decided to increase its rice import duty from the current Rp450 per kg to Rp550 per kg which will be effective after its state-owned logistics agency completes its planned rice imports of 1.5 million MT.

According to the country's Trade Minister Marie Pangestu, the increase in the duty was to ensure that prices at home would not drop drastically or increase sharply.