The potential export deal follows an earlier Agriculture Ministry projection that achieving rice self-sufficiency had placed the country in a position to start exporting the staple grain.
A Malaysian company has submitted a bid to purchase 500,000 tonnes of premium Indonesian rice at Rp 16,000 (91 US cents) per kilogram, according to the State Logistics Agency (Bulog).
Bulog president director Ahmad Rizal Ramdhani said on Friday that the agency was finalizing the technical pricing following a preliminary meeting in Surabaya, East Java.
If the deal closes at the proposed price, the total export value will reach around Rp 8 trillion ($452 million).
"Alhamdulillah [Praise be to God], an agreement has been reached. They intend to import a substantial amount, around 500,000 tonnes," Ahmad said in Jakarta on May 22, as quoted by Kompas.com.
The deal under negotiation is for premium-grade rice, meaning broken grains comprise no more than 5 percent of any given shipment.
Ahmad added that Bulog would be dispatching a director and technical staffers to Sarawak, Malaysia, to discuss delivery mechanisms. He also outlined two potential options: by sea via port-to-port shipment or by land via Entikong in Sanggau regency, West Kalimantan.
Agriculture Minister Amran Sulaiman said early this year that Indonesia was well-positioned to export rice in 2026 after achieving self-sufficiency.
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