As of August 30, Bulog has contracted to import 2.7 million tons of rice under this year’s allocated quota of 3.6 million tons, according to the company’s CEO, Bayu Krisnamurthi.
Rice prices in Indonesia have been on a constant rise this year due to supply and demand imbalances. In June 2024, prices were 12% higher than the previous year.
In July 2024, the Secretary-General of Indonesia’s National Food Agency, Sarwo Edh, stated that the country might import up to 4.3 million tons of rice this year if domestic production falls short. He also mentioned that any additional imports would only be necessary if natural disasters like droughts, floods, or pest infestations disrupt the harvest.
“We are looking to import an additional 900,000 tons. We are trying to sign contracts and receive the goods this year,” said Bayu.
Thailand, Vietnam, Pakistan, Myanmar, and Cambodia are among the rice suppliers to this Southeast Asian market this year.
According to data from Indonesia’s Statistics Bureau, the country’s rice production from January to October 2024 is estimated at 26.9 million tons, a 5% decrease compared to the same period in 2023.
Last year’s El Niño weather phenomenon reduced rainfall, causing delays in the new planting season and lowering rice production—the staple food for most of Indonesia’s 275 million people. “Our rice production is under pressure, and we need to have supplementary measures for production,” Bayu stated.
Indonesia’s geophysics agency expects this year’s dry season to last until October, potentially delaying rice planting by a month.
Reference: Reuters
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