Indonesia Plans to Increase Rice Import Quota Due to Anticipated Decline in Crop Output

1. Indonesia Plans to Increase Rice Import Quota Due to Anticipated Decline in Crop Output Due to a lack of rain, Indonesia intends to increase its limit for rice imports by 80% this year in order to improve local supply, as domestic production is expected to be less than that of last year in the first quarter. The import director of the commerce ministry, Arif Sulistiyo, stated that the government plans to increase the limit by 1.6 million tons. Addressing a conference at the home affairs ministry on Monday, he added that the government-owned food logistics firm Bulog had already received two million tons of permits. Increased purchases are probably going to reduce the basic food's worldwide supply. In January, prices of Thai white rice, which had broken a benchmark by 5%, reached their highest point in 15 years when

2. imports from India, the country's largest exporter, were restricted in an attempt to control local food inflation. India is not anticipated to loosen restrictions until following the April and May federal elections. Tradologie.com is a user-friendly SaaS based global trade hub and your streamlined solution for B2B rice procurement and sales. Connect with global bulk rice buyers or bulk rice sellers, bypass middlemen for higher profits, and secure the best bulk prices effortlessly. Simplify your rice sales or procurement with Tradologie.com. Concerns for 2024 Harvest: Potential Production Drop Since the government is currently updating its food commodity balance sheet—a prerequisite for granting import permits—the new quotas have not yet been approved. Due to El Nino's impact on production and subsequent spike in domestic pricing, Indonesia purchased the most amount of rice in over 20 years last year. Although the harvest of rice this year is predicted to peak in March and April, there is worry that the amount of rice produced without husks may have decreased by roughly 2.8 million tons in the first quarter compared to the same period last year. The government wants to produce 55.4 million tons of unhusked goods in a full year. If you are a rice importer wishing to import rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates. The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, followTradologie.com across all social media channels.