Head of the National Food Agency (Bapanas) or National Food Agency (NFA) Arief Prasetyo Adi said Indonesia's policy of stopping rice imports also had an impact on rice prices in the global market.
He said after the government announced to stop importing a number of food commodities including rice, rice prices in the global market had decreased.
"The permission of the Coordinating Minister for Food (Zulkifli Hasan), it turns out that our policy has also triggered the price of rice in the world market to fall. As soon as the Coordinating Minister said that we did not import four food products, one of which was rice. Rice from several countries fell," he said in an official statement, Friday, January 10.
"Starting from USD 640 per metric ton, it fell again to USD 590 to USD 490. Today it is close to the USD 400s. So our policy today is extraordinary," he continued.
Based on data on the development of the price of 5 percent white rice (Free on Board) from several countries compiled by the Badanas team, Arief said that the average price of rice from Thailand, Vietnam, Pakistan and Myanmar in January 2024 was in the price range of 622 to 655 US dollars per metric ton.
Then as of December 19, 2024, when the government announced a policy to stop rice imports, the commodity prices also began to decline in the range to 514 US dollars per metric ton.
"This month, India has started to open its export taps. The trend of white rice prices will decrease on January 8, 2025, to reach 430 to 490 US dollars per metric ton," he said.
Meanwhile, according to The FAO All Rice Price Index (FARPI), the index in December 2024 decreased 1.2 percent compared to the previous month to 119.2 points. However, judging by the full year, the average FARPI index in 2024 is still 0.8 percent higher than in 2023.
"The price of rice in the world has decreased, but the price of our farmers has been adjusted even better, ahead of this year's harvest. Once again, thank you for the policy to Indonesian farmers," said Arief.
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