City promises stable market prices

The Jakarta Post, Jakarta

Despite rising prices for some staple foods before Idul Fitri celebrations, city officials are assuring the public the price of essential commodities will remain stable during the holiday.

"We guarantee that the price of basic commodities will remain relatively static because we have enough supplies to meet market demand for the upcoming festivities," Jakarta Industry and Trade Agency head Ade Soeharsono said on Thursday.

The agency reported only prices of beef, red chili and onion had increased during the past three days.

"The prices of other commodities, like milk, sugar, rice and butter, however, have remained stable," it said in a statement.

Ade said the agency would be ready to intervene with reserve supplies of foodstuffs should the price of some goods skyrocket.

He warned traders not to illegally stockpile basic commodities to force prices up during the holiday.

"We will directly channel our reserve supplies to markets to stabilize prices if we discover they start to fluctuate," he said.

The agency predicts the demand for basic commodities in the capital is likely to decline because many Jakarta residents will have left town for their home villages or for family trips.

It expected most people would leave yesterday and Friday (today) before Idul Fitri on Sunday. Most residents return to the city a week later.

About 2.8 million out of the estimated 10 million Jakarta residents are forecast to leave Jakarta.