Rice Prices Starts to Stabilize

The government's decision to extend the relaxation of the maximum retail price (MRP) for premium rice until April 24, 2024, has proven effective in stabilizing rice prices in several regions, signaling the end of continuous price hikes since last year.

Akbar Evandio & Hendra Wibawa

21 Mar 2024 - 15.47
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Rice Prices Starts to Stabilize

The extension of MRP relaxation has eased the supply of premium rice to the market, with retail markets now able to meet demands. - Photo BID

Bisnis, JAKARTA—The government's decision to extend the relaxation of the maximum retail price (MRP) for premium rice until April 24, 2024, has proven effective in stabilizing rice prices in several regions, signaling the end of continuous price hikes since last year.

As reported by National Food Agency, the price of premium rice as of Wednesday (20/3) was listed at IDR16,420 per kilogram (kg), slightly lower last week’s price (13/3/2024) at IDR16,480 per kg.

The price of medium rice is also showing signs of easing, priced at IDR14,230 per kg, down compared to IDR14,360 per kg the week before.

In West Java, the price of premium rice commodities is also starting to stabilize around IDR16,000 per kg, compared to IDR18,000 per kg prior to the MRP relaxation policy.

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Rice Prices Starts to Stabilize

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