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Indonesia expects 10 mln metric tons of rice during peak harvest in 2024

By Dewi Kurniawati

JAKARTA, Dec 5 (Reuters) – Indonesia is targeting ten million metric tons of rice output during peak harvest in March to April next year, the agriculture ministry said on Tuesday.

Rice harvested in March is projected at around 5.56 million tons, with harvest in April seen at 4.51 million tons, the ministry said on a statement.

“National rice production has been affected by the El Nino phenomenon,” said Arnen Sri Gemala, an official from the agricultural ministry.

The ministry plans to plant rice on 10.54 million hectare areas, with output expected to reach 32 million tons in 2024.

Based on temporary data from the statistics agency (BPS), rice planting from September to November in 2023 has reached a total area of 840,298 hectares, a decline of 53.61% from last year.

Rice is a staple for most of Indonesia’s 270 million people and price movement is politically sensitive, especially with elections due in February.

The extreme El Nino phenomenon has disrupted rice production in Southeast Asia’s largest economy, which has resorted to imports to secure domestic stocks.

Indonesia’s state food procurement agency (BULOG) said it has imported a total of 3.3 million tons of rice as of Nov. 26, 87.15% of the 3.8 million tons imports quota for the year.

Indonesia’s government is planning to set next year’s rice import quota at 2 million tons. However, the imports would depend on domestic supply and demand, BULOG said.

(Reporting by Dewi Kurniawati; Editing by Varun H K)

https://www.nasdaq.com/articles/indonesia-expects-10-mln-metric-tons-of-rice-during-peak-harvest-in-2024 QR Code

Published Date: December 5, 2023

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