These Are 6 Strategies Of The Government To Anticipate The Spike In Food Prices

Deputy for Macroeconomic and Financial Coordination of the Coordinating Ministry for Economic Affairs, Ferry Irawan. (Photo: Doc. ANTARA)

JAKARTA - Deputy for Macroeconomic and Financial Coordination of the Coordinating Ministry for Economic Affairs, Ferry Irawan said that there were 6 policy steps that were encouraged at the central level to reduce the increase in food prices, especially rice.

Ferry conveyed the first policy step, namely, to maintain the number of government rice reserves. Second, accelerating the distribution of Supply Stabilization and Food Prices (SPHP) in traditional markets, distributors and modern retailers.

"Third, the distribution of rice food assistance to 22 million Beneficiary Families (KPM). Fourth, intensify the implementation of cheap market operations/cheap movements," he explained in his statement, Wednesday, March 27, 2024.

Ferry conveyed the fifth step, the transfer of Government rice reserves to commercial to control the price of premium rice. The last step is the implementation of the highest retail price relaxation for premium rice until April 2024.

"We need to work even harder in guarding food inflation in 2024, including during the national Religious Holiday period (HBKN) to ensure the availability of supply and price affordability," said Deputy Governor of BI, Doni P. Joewono

Doni conveyed that with the implementation of various policies and strengthening synergies, Bank Indonesia believes that IHK 2024 inflation will remain under control in the target range of 2.5 percent plus minus 1 percent.

Doni said that this year's GNPIP is strengthened through 7 programs and 12 sub-programs, with a higher target than in 2023.

The strengthening commodity focus is mainly rice, various chilies, and shallots, as well as other commodities that match the characteristics and conditions in each region.

"The GNPIP synergy is expected to be a joint concrete step accelerator to control food inflation pressures and support national food security in maintaining the momentum of national economic recovery," he concluded.

Doni said that all GNPIP programs in 2024 were formulated by referring to the 4K strategy on the TPIP-TPID inflation control roadmap, namely Affordability of Prices, Availability of Supply, Smooth Distribution, and Effective Communication.