Indonesia To Review Its Rice Crop In September

In other news, Indonesia will review in September whether this year's domestic rice crop is insufficient, and then decide if it needs to import 1 million MT from Vietnam, an official early this week. Indonesia has imposed a ban on rice imports since 2004 to fight illegal cross-border trading, which distorts local prices. Imports are permitted if state stockpiles dip below 1 million MT or if prices go above IDR3,550 a kilogram. 
 
Earlier this month, the Indonesian and Vietnamese trade ministers signed a memorandum of understanding for Indonesia to import 1 million MT of rice, if necessary. Whether Indonesia needs to do that will become clear in September at the end of the main rice harvest.