The announcement came after a meeting on food security and preparation for the 2023 Lebaran holidays chaired by Indonesian President Joko Widodo.
Rice imports would be used for the rice price stabilization program, supporting 21.5 million poor households, and other purposes, according to the Indonesian government. It has also doubled its rice reserve target to 2.4 million tons to ensure food security.
The Indonesia Logistics Bureau was tasked with promptly importing 500,000 tons of rice. However, it only managed to buy 60,000 tons by March 25, while Indonesia’s national rice reserves have fallen to around 280,000 tons.
IndoCham Vietnam encouraged Vietnamese rice exporters to contact the Indonesia Logistics Bureau to promote their products in preparation for an expected large rice purchase from the Southeast Asian country.
The Import-Export Department at the Ministry of Industry and Trade has advised Vietnamese rice exporters to keep a close watch on the market situation and weigh risks and opportunities in rice trade, reported Tuoi Tre Online.
Data from the General Department of Vietnam Customs showed that Indonesia was the third-largest buyer of Vietnamese rice in January and February, followed by the Philippines and China.
Vietnam shipped nearly 144,000 tons of rice worth US$67.3 million to Indonesia during the first two months of the year, surging 33.7% in volume and 30.3% in value over the same period in 2022.