Indonesia to import another 250,000 T of rice

06 | 12 | 2010

Indonesia will import another 250,000 tonnes of rice to build up stocks at state procurement agency Bulog, Kompas newspaper reported on Friday.

Indonesia will import another 250,000 tonnes of rice to build up stocks at state procurement agency Bulog, Kompas newspaper reported on Friday.

The government has allowed Bulog to import rice this year as its stocks are inadequate and high domestic prices have prevented it from building them up.

"Yes, there will be additional import of 250,000 tonnes. Bulog has the details," said Hatta Rajasa, chief economic minister, as quoted by the newspaper.

The rice, which is premium 5-percent broken, is in addition to previous purchases of 600,000 tonnes, mostly from Vietnam.

Bulog is in the process of tendering for 100,000 tonnes of premium 5-percent broken Thai rice but it has not yet announced a winner.

Indonesia will suspend the import duty for rice imports done by state procurement agency Bulog to ensure the grain can be sold cheaper to the domestic market and ease the cost burden on the agency at a time of high prices, the trade minister said on Thursday.

If approved, the import duty will be suspended until February 2011 in line with the expiry of the import permit. It was not clear if the import duty will be lifted after February but under rice trade regulation, rice imports are not allowed during the main February-June rice harvest.

Source: Reuters

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