Rice prices trending lower

JAKARTA (JP): In spite of Sunday's fuel price hikes, the price of rice in Jakarta held steady on Monday with indications it will fall next week because of plentiful of stocks, Antara reported.

Bhaktiono Nasion, head of the Cipinang Central Market, told the news agency that prices were stable because the capital had more than enough stock to meet the strong demand.

Saigon Bandung was quoted at Rp 2,300 per kilogram, Muncul II at Rp 2,100, Muncul III at Rp 2,000, IR I at Rp 2,150, IR II at Rp 2,000, IR III at Rp 1,800 and Cisadane at Rp 2,050, Antara said.

Bhaktiono said prices in Cipinang could decline next week in line with the trend noted at major rice production areas due to the start of the harvest season. (02)