Indonesia plans to import 1 million tonnes of rice from India

21-Nov-2024 02:51 PM

Indonesia plans to import 1 million tonnes of rice from India
Indonesia has decided to import 1 million tonnes of rice from India in 2024, marking a significant step in meeting its rising domestic demand. The decision was made during a meeting between the governments of Indonesia and India on 18 November 2024, held at the G20 summit in Rio de Janeiro, Brazil.

Trade Minister Budi Santoso confirmed that this import is part of Indonesia’s expanded rice import quota for the year, which now stands at 36 lakh (3.6 million) tonnes, up from the previous quota of 20 lakh tonnes. This increase in quota reflects the growing need to secure rice supplies, with Indian rice becoming a key option due to its rising demand in international markets. This import move is expected to help stabilize Indonesia's domestic rice prices and address potential supply shortages.

India’s role as a major rice exporter continues to strengthen, with international demand for Indian rice growing, which could also help stabilize global rice prices in the near future.