Surplus predicted in Indonesia`s rice supply

25 , 2016 | Source: Antara News

The agriculture ministry said the country is expected to have a surplus of 11.38 million tons in supply of milled rice by the end of this year.

 

Chief spokesman of the ministry Agung Hendriadi said rice supply is estimated to reach 43.69 million tons as against requirement of 32.3 million tons this year.

"A surplus , therefore, is expected to reach 11.38 million tons, even there would be an excess of 20 million tons in supply on stocks including early year stock and Bulog stocks and harvest 8.8 million tons," Agung said.

Similarly excesses are also estimated in the supply of other foodstuff including 2.1 million tons of corn grains, 339,400 tons of sugar, 18.5 million tons of cooking oil, 131,800 tons of red onion, 414,400 tons of chili, 1.59 million tons of chicken meat and 1.44 million tons of eggs.

Meanwhile, deficit is expected in the supply of beef and soybeans.

Deficit in beef supply is estimated to reach 220,000 tons with supply totaling 441,8000 tons as against consumption of 662,300 tons, and deficit in soybean is around 1.09 million tons with supply totaling only 1.5 million tons as against consumption of 2.59 million tons.

Agung, however, said in general supply of the 11 strategic commodities is relatively safe until the end of the year.

"Deficit would be recorded only in the supply of two commodities until the end of the year," he said.

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
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