Commodities Buzz: Indonesia Rice Imports To Rise In 2017/18

Indonesias rice imports in 2017-18 are expected to rise to 1.3 million tonnes as the country attempts to stabilize prices and rebuild stocks, according to an April 3 Global Agricultural Information Network (GAIN) report from the U.S. Department of Agriculture.

The Indonesian Bureau of Logistics (BULOG) has set its domestic procurement target for 2017-18 at 2.7 million tonnes of milled rice equivalent but only 650,000 tonnes had been procured through March.

The USDA noted that per capita rice consumption in Indonesia is declining about 1.6% per year. The decline in rice consumption is partly offset by increasing consumption of wheat flour-based foods.