DEPUTY for Macroeconomics and Finance at the Coordinating Ministry for the Economy, Ferry Irawan, said that currently the government continues to monitor developments in the availability, supply and price of rice in traditional markets and modern retail.
“The highest retail price (HET) relaxation policy which has been extended until the end of April (24 April 2024) is directed at maintaining the stability of the supply and price of premium rice on the market, especially in modern markets/retailers. This relaxation policy is only for premium rice, while medium and commodity rice the others remain,” said Ferry when contacted on Wednesday (20/3).
Furthermore, Ferry said that pressure on rice prices was still ongoing even though it was starting to become limited. Domestic rice supplies are also still limited due to shifts in the harvest season and flood disasters causing crop failures in several central areas.
“The government has been alert to this condition by maintaining rice supplies, especially government rice reserves (CBP) through a measured import policy. The government is making efforts to accelerate import revenues until the end of March. CBP stock as of March 15 2024 was recorded at 1.1 million tonnes,” he explained.
Meanwhile, in order to maintain the purchasing power of the community, especially the poor and vulnerable, the government is continuing and accelerating the distribution of rice food aid of 10 kg/month to 22 million KPM in January-March 2024 and continuing in April-June 2024 (adjusting to the capabilities of the APBN). The distribution of commercial SPHP and CBP as well as the cheap food movement in various regions are also expected to reduce further increases in rice prices.
“Furthermore, SPHP distribution is maximized to reach 250,000 tonnes/month with a commitment to always be present at the retail level in traditional and modern markets. With current developments, inflation in 2024 is predicted to remain maintained at the target range of 2.5±1%,” he stressed. (Fal)
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