President promotes auctions

President promotes auctions

SURABAYA: President Megawati Soekarnoputri launched a national
program on Saturday to promote agricultural produce auction
markets so as to shorten the trading chain and increase farmers'
incomes.

Megawati said auction markets would enable buyers and farmers
to directly make deals, giving no room to brokers and pre-harvest
buyers.

She said the government had taken measures to help farmers
sell their agricultural products at reasonable prices. Conversion
of farmland to industrial and residential purposes was one of the
reasons why poverty still prevailed, the President said.

Industry and trade minister Rini MS Soewandi said there were
five auction markets operating in West Java, Central Java, East
Java, West Sumatra and North Sulawesi.

She said the auction market in the North Sulawesi capital of
Manado recorded transactions of up to Rp 8.8 billion (US$1.1
million), the Semarang market up to Rp 24.3 billion, the Bandung
market up to Rp 74.3 billion and the Surabaya market up to Rp 38
billion last year. -- Antara