Indonesia: El Nino Conditions Compel Indonesia to Import Additional 2 MMT of Rice

  |   Attaché Report (GAIN)   |   ID2023-0020

On, September 26, 2023, the Government of Indonesia (GOI) announced it will authorize the importation of an additional 2 million metric tons (MMT) of rice to offset rice production shortfalls and bring down rice prices. BULOG, a state-owned logistics company, reported its 2022/23 ending stocks risk falling below food security levels. BULOG has been periodically releasing its government rice reserves stocks to dampen skyrocketing rice prices due to El Nino-induced rice production shortages, but now needs to replenish those stocks with imports. Approximately 1 MMT of this new import allocation must arrive before the end of 2023 to keep BULOG’s stocks from being fully depleted, while the remaining 1 MMT are expected to arrive in early 2024.

Related Reports

Attaché Report (GAIN)

Turkiye: Grain and Feed Update

In marketing year (MY) 2024/25, Turkiye’s wheat, barley, and corn production is forecast to contract year-over-year due to drier-than-normal weather conditions during the growing season.
Attaché Report (GAIN)

Ukraine: Grain and Feed Quarterly

Post’s marketing year (MY) 2024/25 production estimate for all grains is 13 percent lower than its MY2023/24 estimate. With MY2024/25 beginning stocks at minimum levels, Post’s export estimates are 26 percent lower than its estimates for the previous MY.
Attaché Report (GAIN)

Japan: Forage Market Update

FAS/Tokyo projects Japan’s forage demand to continue to be sluggish in MY2024/25 due to the slow recovery of cattle inventories. Even weaker demand for imported forage is anticipated as farmers shift to price-competitive domestic forage.