JAKARTA: The El Nino is expected to lead to a decline in domestic rice production, with an estimated drop of around five per cent, according to Indone...
: The El Nino is expected to lead to a decline in domestic rice production, with an estimated drop of around five per cent, according to Indonesia’s National Food Agency .
The agency’s head, Arief Prasetyo Adi, noted that Bulog currently holds about 1.5 million tonnes of secured stock, with an additional 400,000 tonnes expected to be added. The NFA has been building up these stocks since last year in anticipation of the El Nino and will release them as a government intervention to stabilise prices in the market.
Indonesia’s meteorology agency, BMKG, forecasts that the El Nino phenomenon will persist until early 2024 based on its monthly rainfall predictions.
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