RI-Thailand countertrade worth $40m

RI-Thailand countertrade worth $40m

JAKARTA: Indonesia said on Friday a planned countertrade arrangement with Thailand to swap ammonia for rice was estimated to be worth around US$40 million.

The head of Indonesia's state food agency Bulog, Widjanarko Puspojo, said the amount would equal around 200,000 tons of rice from Thailand.

"This countertrade is seen at $40 million and the delivery will be done in August and September," he said.

Ammonia is the main chemical used to make urea fertilizer.

He added Thailand was also considering swapping rice for train coaches and Indonesian-manufactured CN-235 planes, engineered by state-owned aircraft manufacturer PT Dirgantara Indonesia.

The planes are priced at $18-$20 million each, Puspojo added.

"The decision to swap rice for the train coaches and the CN- 235 needs to be agreed during a cabinet meeting in Thailand," Puspojo said. -- Reuters