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Indonesia to hold back surplus rice from export to boost supplies
Indonesia, the world's third- largest rice producer, will hold back surplus rice from export this year to bolster domestic stockpiles, President Susilo Bambang Yudhoyono said.
- Bloomberg
- Published: 00:33 April 19, 2008
Jakarta: Indonesia, the world's third- largest rice producer, will hold back surplus rice from export this year to bolster domestic stockpiles, President Susilo Bambang Yudhoyono said.
"I haven't allowed for exports, it's better to keep for domestic stockpiles," Yudhoyono said in Jakarta. He also said the country is considering planting food crops on land whose owners haven't utilised it as planned when applying for rights.
The president's comments came after Trade Minister Mari Pangestu said on April 15 the country may allow exports should local stockpiles triple from about one million metric tonnes.
Agriculture Minister Anton Apriyantono said on April 2 that Indonesia's rice production may exceed domestic consumption by two million tonnes this year, making it unlikely the nation will sell the grain overseas. Last year, the country imported 1.2 million tons of rice.
Rice has more than doubled in price in the past year.
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