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NEWS UPDATES 14 August 2010

Cheap rice to be distributed to Indo poor

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The Indonesian Trade Ministry said the State Logistics Agency (Bulog) would distribute cheap rice for the poor for August and September deliveries by the third week of August to prevent an extreme price increase.

Director general of domestic trade at the ministry, Subagyo, said the government expected to keep the rice price from surging by more than 3 percent during the current fasting month, saying it would spur inflation rate.

“If the price increases by 3 percent or more, it will significantly influence the inflation rate,” he said.

He said that Bulog would have to cooperate with regional governments across the country to make sure the cheap rice was distributed to those in need.

According to the ministry's data, the average price of medium quality rice went up by 0.34 percent to Rp 6,717 per kilogram on Friday from Rp 6,694 in the previous day. The highest increase took place in Gorontalo with Rp 7,500 while the lowest occurred in Makassar, South Sulawesi, with Rp 5,500.

The data also shows the monthly average price of medium quality rice raised by 1.94 percent to Rp 6.626 per kilogram in August from Rp 6,500 in July.

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