When Will The Price Of Rice Go Down? Bulog Boss Says This

JAKARTA - President Director of Perum Bulog Bayu Krisnamurthi said the harvest season in several areas will arrive in early March 2024. Along with the entry of this harvest season, rice prices are predicted to decline because the supply is abundant.

Bayu said that some areas that will enter the harvest season include Kendal, Sragen, Demak, Indramayu, and BAkan in South Sulawesi which have started harvesting.

"Alhamdulillah, March-April until part of May will be harvested. In South Sulawesi all have started harvesting and many goods, strong indications," he said at the CNBC Indonesia Economic Outlook 2024, in Jakarta, Thursday, February 29.

Bayu also said that the Karwang main market had also been filled with rice supply. Bahkam, kiosks feel the price of rice has dropped.

Therefore, Bayu said he was optimistic that the price of rice would be corrected and decreased when it entered the harvest season which coincided with the fasting month.

"Now the kiosk doesn't feel like they're going for a walk and prices have dropped, in Cipinang there are a lot of stock and movements are not as fast as we want but good. Optimistic that in the next 2 weeks, the fasting month and Eid, the price of rice will be fined," he said.

Bayu also said that the rice stock currently controlled by Bulog reached 1.3 million tons. This stock is sufficient until the end of March and will increase along with the entry of the domestic harvest season.

"Stok Bulog, 1.3 million tons and from now on until the end of March, at least what is planned, in a week 30,000 tons enter every week, God willing, stocks will be maintained," he explained.