Press Statement of President of the Republic of Indonesia after the Inspection of Pasar Baru Tradional Market in Karawang Regency, West Java Province, May 8, 2024

President of the Republic of Indonesia (Joko Widodo)
Well, first, we will focus on the market. So, we checked the prices, mainly of chilies, rice, garlic, shallots. Their prices have dropped. First of all, shallots are at Rp45,000. How much was the garlic, sir? Rp38,000 to Rp40,000. Also for rice, many sold the locally grown rice at Rp12,000 to Rp13,000. I believe the prices are good, meaning that the inflation rate will also decrease compared to last month.

Journalists
What about the stock, sir? Especially as we approach the dry season. How are you anticipating this? We’re entering the dry season.

President of the Republic of Indonesia (Joko Widodo)
Regarding stocks, currently there are 1.6 million [tons] in the State Logistics Agency (Bulog). Usually, we only stock a maximum of 1.2 [million tons] or often it is below 1.2 [million tons]. Our average stock is at 900,000 [tons]. There are 1.6 [million tons] of stock in Bulog. Check with the Bulog, is it correct that we have 1.6 [million tons]?

Journalists
Does that mean the stock is safe, sir?

President of the Republic of Indonesia (Joko Widodo)
Yes, it  is. But regardless, for this dry [season] we have anticipated by installing pumping wells at locations where we have calculated that there will be a shortage of water, especially at locations that deal with agriculture, with rice, which has been started by Ministry of Agriculture and Ministry of Public Works and Public Housing.

Journalists
Sorry, sir. (inaudible) regional elections, accelerating (inaudible)

President of the Republic of Indonesia (Joko Widodo)
No, no, no. Until now there is no such thing as accelerating or requesting for regional elections.

Journalists
So, it is still in November, sir?

President of the Republic of Indonesia (Joko Widodo)
Yes, there is no application for that.

Journalists
Sir, the concentrate export license for Freeport will expire this May, sir…

President of the Republic of Indonesia (Joko Widodo)
Yes, we’ll extend it. We are still calculating about how much to charge, but we should also appreciate that Freeport and Amman have built smelters that are almost 100 percent complete. We monitor them weekly. We monitor the progress of the construction at what percentage the progress is.

Journalists
Is the export license relaxation extended, sir?

President of the Republic of Indonesia (Joko Widodo)
Pardon?

Journalists
Is the export license relaxation extended?

President of the Republic of Indonesia (Joko Widodo)
That will be handled by Minister of Trade, but I think the completion of the smelters shows their strong desire to engage in downstream activities domestically. I believe this is excellent and should be appreciated.

(FI/LW)