ASEAN to set up rice reserve: Minister

ASEAN to set up rice reserve: Minister

Antara, Medan

Indonesian Agriculture Minister Bungaran Saragih disclosed on
Thursday that member countries of the Association of Southeast
Asian Nations (ASEAN) had agreed to form a regional rice reserve
system.

Saragih made a statement on the sidelines of the 23rd meeting
of ASEAN ministers of agriculture and forestry in the capital of
North Sumatra province.

Under the system, all other members would try to contribute
rice if an ASEAN member country suffered from a rice shortage.

Saragih pointed out that the form of cooperation within the
scheme would need to be discussed further by a team of experts
under the coordination of the ASEAN Secretariat.

He said however that he expects the cooperation to take effect
as soon as possible because some ASEAN countries suffer from rice
scarcity during certain seasons.

"In Indonesia's experience in 1998, the price of imported rice
increased five-fold because the domestic rice stock was virtually
non-existent, while stocks in other ASEAN countries were quite
low," he said.

The minister made it clear however that even after putting the
rice reserve system into practice, Indonesia might sometimes have
to import rice from other countries outside ASEAN.