Indonesia may procure another 500,000 tonnes of rice from abroad this year to fill up the diminishing government rice reserves, the Trade Ministry has said.
/PRNewswire/ The "Rice Market, Size, Global Forecast 2022-2027, Industry Trends, Share, Growth, Insight, Impact of COVID-19, Company Analysis" report has.
The central bank has asked banks to take a minimum cash advance from importers while opening letters of credit (LCs) for rice and wheat in order to keep their prices at a tolerable level in the domestic market and ensure smooth supply.
The National Board of Revenue (NBR) has extended the scope for traders to import rice at reduced tariff by three months to March 31 next year to facilitate increased supply of the staple food and contain its prices in the local market.