Indonesia To Review Its Rice Crop In September

Apr 19,2007 00:00 by dailynews

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.