RI rice crop in 1995 estimated at 49m tons

RI rice crop in 1995 estimated at 49m tons

HAMBURG (Reuter): Indonesia's 1995 rice (unhusked) crop was estimated at 49 million tons, up 3.89 percent from last year, agriculture minister Syarifudin Baharsyah told Reuters.

He would not comment on the full year outlook for imports but said this production figure was "quite high."

State commodities regulator BULOG put first half 1995 imports at 1.3 million tons.

The minister said imports were made to stabilize domestic prices rather than fill supply gaps.

"Whether we buy or sell is decided according to the national stocks situation," he said.

He defended the role of BULOG which has come under criticism from within the country and the World Bank.

"BULOG is not setting prices, it is working through the market, it buys from farmers when certain floor prices are reached," he said, adding such practices could be found throughout the world.