Indonesia Cuts Import Duty On Rice

The Indonesian government has decided to relax its import duty on rice to 450 rupiah per KG from the current 550 rupiah as part of a plan to stabilize the domestic prices of rice in the country.

The cut comes after the recent statistic released by the Central Bureau of Statistics showed that the consumer price index rose 1.77 % in January from December, with the price of rice, the staple food in Indonesia was pushed higher by a supply shortage.

(1 USD = 9,291 rupiah)