Indonesia Sets Reference Price for Paddy, Rice
The government of Indonesia has set reference prices for seven basic food items, including rice, according to Bloomberg citing a statement from the Trade Ministry.
The move aims at ensuring adequate supply and maintaining price stability in the domestic market.
It has set the reference prices of farm gate paddy and rice at 3,700 - 4,600 Rupiah per kilogram (around $280 - $348 per ton) and 7,300 Rupiah per kilogram (around $553 per ton) respectively. It has set the reference price for consumer milled rice at 9,500 Rupiah per kilogram (around $719 per ton).
The government noted that it would evaluate the prices every four months.