The State Logistics Agency (Bulog) has distributed 1.2 million tons of rice in the year-long market operations from January to December 2022 to check food price volatility in the country.

“This is the largest amount of rice in Bulog’s history distributed in a market operation,” Bulog’s president director, Budi Waseso, informed here on Thursday.

Bulog will continue to carry out the massive market operation with additional stocks obtained from imports, in accordance with its task of stabilizing the country’s economy, he added.

Bulog is ensuring rice stock adequacy at affordable prices, hence a slight increase in price in the market should not make people worry.

“We continue to monitor the situation and will flood the market with the government’s rice reserves (CBP) and additional rice imports. The amount of rice distributed during Bulog’s market operations will continue to increase until the year-end,” he said.

The policy to import 500 thousand tons of rice is expected to check the increase in rice prices.

“Psychologically, imports will ensure goods availability, and when the market believes that Bulog has the stock, the price will be under control,” Waseso elaborated.

He said that rice imports would not harm farmers as their peak harvest season will start in February-end or early March.

Bulog has been tasked with maintaining rice reserves at 1.0 to 1.5 million tons.

“In addition to imported rice, we are still absorbing rice from domestic farmers. We also need to pay attention to rice price stability,” he added.

Waseso said Bulog is also continuing to coordinate with the central and regional governments to stabilize rice prices at the consumer level.

Market operations carried out throughout the year by Bulog have proven to be effective in maintaining rice price stability at the consumer level.

Source: Antara News