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Rice Prices Reach Record Highs On Indonesian Markets
Posted on Thursday, February 15 @ 01:36:44 CST by ricenews

Indonesia NewsIndonesia News

Rice prices continue to hit record highs on Indonesian markets despite government price controls, the Jakarta Post reported Thursday.

Within the last week, rice has risen to IDR6,000 a kilogram from IDR5,000/kg in Central Java, and in Bandung, West Java, has increased to IDR6,500/kg from IDR5,500/kg, the report quoted traders as saying.

The government is releasing stockpiled rice onto local markets to cap price inflation, but traders said supplies are still too low to stop prices from rising.

The government recently announced it will import 250,000 MT of rice to meet a domestic shortfall caused by bad weather.

 
 

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Most read story about Indonesia News:
Indonesia Insists On Retaining Rice Import Ban



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