Trade and markets
 

Detail

Area
Indonesia
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans
Date
01/05/2017
Policy Category
Stocks
Policy Instrument
Public procurement
Description
Released public funds for the procurement – on either the domestic or import market – of rice, soybeans and sugar, with the aim of stabilizing domestic consumer prices.
Notes
Indonesia’s State Logistics Agency (BULOG) allocated IDR 37 trillion (USD 2.8 billion) for the procurement of rice, soybeans and sugar. BULOG’s purchases, which can either be made on the domestic market or abroad, will be aimed at stabilizing domestic consumer prices. Furthermore, BULOG is seeking to improve cooperation with private stakeholders that agree to sell the commodities at the prices set by the agency. Moreover, BULOG plans to continue investing in post-harvest infrastructure, notably storage facilities, in order to strengthen the agency’s capacity to buy from local farmers.