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Indonesian rice stocks sufficient
JAKARTA (Thomson Financial) - Indonesia's rice stocks held by the national logistics board (Bulog) stood at 1.73 million tons as of August 21 compared to 1.63 million tons at end-July, Bulog chief Abubakar Ali said.

'The stocks should be sufficient for eight months' supply,' Ali told reporters.

The government has said it will maintain rice stocks at the ideal level of 1.5-2 million tons.

Ali said that from January to August 21, Bulog bought a total of 1.59 million tons of rice from local farmers out of a targeted 1.62 million tons for this year, and imported another 775,000 tons.

Bulog is responsible for stabilizing the prices of basic commodities, particularly rice, a staple food in Indonesia. Bulog keeps a stable supply by buying rice from local farmers and by importing the grain.

Ali said the price of rice in general has remained 'relatively stable' although prices of certain higher-quality brands have risen slightly in recent weeks.

The price of rice is a major component of Indonesia's consumer price index.
MGR Archive 23.8.2007
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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