Retail rice prices climbed 2.7% from January to June even as Bulog said it held 5.4 million metric tons by late June this year.
What's going on here?
Indonesia’s rice prices have kept inching higher this year, even as Bulog, the state logistics agency, says it held a record 5.4 million metric tons of rice by late June.
What does this mean?
Indonesia’s statistics bureau data show the squeeze runs through the whole chain: retail rice prices rose 2.7% from January to June to 15,440 rupiah ($0.86) per kilogram, while wholesale prices climbed 3.3% and milling-level prices rose 2.3%. Normally, bigger state stockpiles would cool prices. But inventories help only when they’re released smoothly into everyday markets; otherwise, they act more like insurance against a worse shortage than a force that lowers today’s p..
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