Bulog to import up to 700,000 tons of rice<\/p>\n
Mochammad N. Kurniawan, The Jakarta Post, Jakarta<\/p>\n
State Logistics Agency (Bulog) said on Thursday it planned to
\nimport up to 700,000 tons of rice next year to help meet strong
\ndomestic demand.<\/p>\n
Bulog chairman Widjanarko Puspoyo said the imports were part
\nof Bulog's plan to supply about three million tons of rice next
\nyear.<\/p>\n
\"It will be unavoidable to import rice,\" Widjanarko said
\nduring a working meeting with House of Representatives Commission
\nIII for agriculture and food affairs.<\/p>\n
He didn't provide details.<\/p>\n
He added that Bulog would buy around 2.2 million tons of rice
\nfrom local farmers next year.<\/p>\n
Bulog is a state agency which is obliged to maintain domestic
\nrice supplies, distribution and price stability.<\/p>\n
Widjanarko said that part of the Bulog rice imports would be
\nallocated to supporting the government social safety net program.<\/p>\n
Bulog planned to seek about US$101.5 million in commercial
\nloans from the Islamic Development Bank to finance the rice
\nimports, he said.<\/p>\n
Bulog would also seek another financing program including
\ngrants from the U.S. government, he said.<\/p>\n
So far, Bulog had reached agreement with the Vietnamese state-
\nowned company Southern Food Corp., to buy 500,000 tons of rice,
\nhe said.<\/p>\n
But, he added, the realization of the plan would depend on the
\ndomestic harvest next year.<\/p>\n
According to Widjanarko, Bulog would pay for the rice to be
\nbought from Vietnam with \"differed payment\" over two years.<\/p>\n
At present, Bulog rice stocks reached 1.4 million tons, he
\nsaid, adding that these stocks would be used to meet domestic
\ndemand until March of next year.<\/p>",
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