Vice President Ma’ruf Amin in Tangerang, Banten, on Thursday (March 7, 2024). (ANTARA/Andi Firdaus)

Jakarta (ANTARA) – Vice President Ma’ruf Amin on Thursday said that the harvest cycle in a number of rice-producing regions in Indonesia is expected to contribute to the stabilization of rice prices in the market.

“We expect some harvests to happen in some regions, therefore we hope that the rice prices will stabilize soon,” he added at a press conference after the inauguration of the 2024 Community Vocational Training Center (BLK) in Tangerang, Banten.

He noted that domestic rice price fluctuations in the market are currently influenced by limited supplies of the commodity.

The fact that the country has not yet entered the harvest season has also contributed to rice price volatility, he said.

“I think rice is still difficult (to stabilize) as it is not the harvest season yet,” he added.

According to him, sufficient supply of rice in the markets will help stabilize the price of the commodity.

Rice prices have shot up in the past four months in several regions, with the price of medium-grade rice touching Rp14 thousand per kilogram (kg) and premium-grade rice Rp18 thousand per kg.

Meanwhile, the rice supplied by the State Logistics Agency (Bulog) is selling for Rp51 thousand per 5 kg, or Rp10,200 per kg.

Indonesia’s rice-producing regions, including Sragen district, Central Java, are currently entering the harvest period, with average production estimated at seven tons per hectare.

Meanwhile, the West Java government has assured that rice stocks in the province — pegged at 107.4 thousand tons — will be sufficient for Ramadan and Eid al-Fitr needs.

Seven ships are planned to carry 44,450 tons of rice to West Java this month.

Further, some agricultural lands in East Kalimantan province have entered the harvest period this month.

Published Date: March 7, 2024