Indonesian rice prices are creeping up; what's the situation in neighboring countries?

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Adi Ahdiat 22/09/2022 11:00 WIB

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Rice prices in Indonesia climbed in the third quarter of 2022. A similar trend was observed in Thailand, but not in Vietnam.

Average Monthly Rice Prices in Thailand and Vietnam (January 2019-August 2022)

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Average Monthly Rice Prices in Thailand and Vietnam (January 2019-August 2022)

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Rice prices in Indonesia crept up in the third quarter of 2022. Although the surge wasn't drastic, price increases have been recorded since August 2022, continuing into September 2022 after the government raised subsidized fuel prices.

The average price of premium rice in Indonesia in September 2022 increased by 0.8% month-on-month (mom) and by 2.4% year-on-year (yoy).

Meanwhile, the average price of medium-quality rice in September 2022 rose by 0.9% month-on-month (mom) and by 2.9% year-on-year (yoy).

This upward price trend also occurred in Thailand, a neighboring country and one of the world's largest rice producers.

According to World Bank data, the average price of rice in Thailand (5% broken) reached US$431/metric ton in August 2022. This represents an increase of approximately 3.11% month-on-month (mom) and 6.94% year-on-year (yoy).

This figure shows that the increase in rice prices in Thailand was higher than in Indonesia.

However, this upward price trend did not occur in Vietnam, another Southeast Asian country among the world's major rice producers.

The World Bank reported that the price of rice in Vietnam (5% broken) was only US$395.8/metric ton in August 2022. This represents a decrease of 3.71% month-on-month (mom), but it was still 2.94% higher year-on-year (yoy).

This data indicates that the trend of rice prices in Indonesia does not always align with market movements in other countries.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesian rice prices are creeping up; what's the situation in neighboring countries?

Indonesian rice prices are creeping up; what's the situation in neighboring countries?

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Indonesian rice prices are creeping up; what's the situation in neighboring countries?

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Today's Food Prices (05/12) in Aceh: Onions Up, Red Chili Down

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