Bulog plans large market operation to stabilize prices<\/p>\n
JAKARTA (JP): The State Logistics Agency (Bulog), the
\ngovernment's buffer stock agency for staple foods, plans a
\nmassive market operation to stabilize rice prices during the
\nfasting month and the Idul Fitri holiday.<\/p>\n
Bulog's Chairman Beddu Amang said yesterday that the agency
\nwill release 90,000 tons of rice from its stocks this month and
\nanother 50,000 tons in February in its market operation plan.<\/p>\n
"If it is needed, Bulog will increase the volume of rice to be
\nsold at marketplaces," he told newspeople after meeting with
\nPresident Soeharto.<\/p>\n
During the meeting, he reported his agency's preparations in
\nwelcoming the Islamic fasting month, which will begin next week,
\nand the Idul Fitri celebration after the fasting month ends --
\nwhen the demand for staple foods will be unusually higher.<\/p>\n
Beddu also reported to the President on the outcome of the
\nrecent congress of the Association of Agriculture Experts, which
\nhe chairs, in yesterday's meeting.<\/p>\n
Beddu said that the rice stocks held by Bulog reached around
\n1.82 million tons early this month, which are sufficient to back
\nup the agency's market operation for five months.<\/p>\n
He said that the stocks of sugar and wheat, which respectively
\ntotaled around 404,835 tons and 142,915 tons early this month,
\nare also adequate to curb a possible increase in the prices of
\nthe two commodities during the fasting month and Idul Fitri.<\/p>\n
In addition, the agency will also import around 337,000 tons
\nof sugar and 483,000 tons of wheat this month and next month to
\nback up the supply of the two commodities.<\/p>\n
Bulog also plans to sell around 90,000 tons of cooking oil on
\nthe market in the next two months to stabilize its prices.<\/p>\n
"The market operation in stabilizing cooking oil prices will
\nbe carried out in Jakarta, Surabaya (East Java), Bandung (West
\nJava), Semarang (Central Java) and Yogyakarta," he said, adding
\nthat cooking oil bearing brand names will be sold at Rp 1,900 (85
\nU.S. cents) a liter and those without brand names at Rp 1,300 per
\nliter.<\/p>\n
The demand for beef will increase by 900 tons to 4,650 tons
\nduring the fasting month and Idul Fitri, while that for chicken
\nis expected to increase to around 300 tons per day.<\/p>\n
He said that the beef supply on the market is expected to
\nreach 6,921 tons during the fasting month and Idul Fitri, which
\nwill be much higher than the demand.<\/p>\n
An additional supply of 1,500 tons of beef is also expected
\nfrom overseas.<\/p>\n
The supply of chicken is estimated to reach between 500 and
\n650 tons per day, much higher than the demand. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bulog-plans-large-market-operation-to-stabilize-prices-1447893297",
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