#Indonesia May #Import #Rice, Export Minerals in H2 02.07.2014 Indonesian Trade Minister M. Lutfi said he had instructed state food procurement body Bulog to anticipate the possibility of a rice supply shortfall, to cope with domestic consumption, suggesting that the agency had been granted approval to import. The minister, however, refused to be specific. “I think the instruction was quite clear, but the matters of volume, price and timing are the discretion of the government,” Lutfi said during his monthly address on trade balance on Wednesday. Anticipatory measures were also needed to prepare for the seasonal El Nino effect, which is expected in August, according to Lutfi. The Central Statistic Agency reported on Wednesday that the forecast of unhusked rice output this year was 69.87 million tons, down 1.98 percent, or 1.41 million tons, from last year, due to smaller farming area and a drop in productivity. Lutfi said Bulog has around 1.9 million tons of rice in its warehouses, which should be enough for seven months’ domestic consumption. He also revealed that Indonesia may resume exports of unrefined minerals, or concentrate, in the second half of the year. “It’s [like in a marathon race], there could be surprises in the last 100 meters,” the minister said. The government has restricted exports of unrefined minerals with punitive export duties and the introduction of stringent measures, such as an obligation for mining companies to commit to value-added programs. The resumption of concentrate exports in the second half, coupled with the surge in exports of manufactured products such as cars, may help Indonesia book a trade surplus and achieve the targeted $190 billion in export value this year, Lutfi said. thejakartaglobe/business/indonesia-may-import-rice-export-minerals-h2/
Posted on: Thu, 03 Jul 2014 13:56:49 +0000
Trending Topics
Recently Viewed Topics
© 2015