rice
JAKARTA: Indonesia's domestic rice supply-demand gap is seen at a surplus of 1.7 million metric tonnes in the first half of 2024, narrowing from 3.36 million ton surplus last year, an agriculture ministry official said on Wednesday (March 27).
Drought driven by El Nino hit Indonesia in the second half of 2023, delaying the planting season and hurting harvests, resulting in rice deficit in January and February.
Total rice output between January and June is seen at 17.09 million tons, more than the 15.39 million tons total demand predicted for the period
"Planting in the October-November 2023 season were dropped because there was no water, and we had a deficit in January and February. But in March, April, May, output will be surplus," agriculture ministry official Endro Gunawan told a seminar hosted by the central bank.
Endro said the rice supply ahead of Eid holiday in the second week of April would be sufficient.
Indonesia has allocated a 3.6 million tons rice import quota for 2024 to curb rising domestic rice prices. - Reuters
