Indonesia Likely To Cut Import Duty

Indonesia is most likely to lower its rice import duty to IDR450 per kilogram from IDR550 in an effort to stabilize domestic rice prices

With the rising price of rice in the international market, a duty cut will help Indonesia's State Logistics Agency, Bulog to import the grain at cheaper prices.

Bulog is tasked with importing rice whenever there is a shortage so as to ensure that domestic prices do not soar out of control.