Statement of President of the Republic of Indonesia after Inspecting Food Prices at Wonokromo Market, Surabaya Province, February 18, 2023

First and foremost, I would like to inspect price of the most important commodity, namely rice. I would like to know whether the market operation of the State Logistics Agency (Bulog) has reached traditional markets, vendors or not. I noticed that the operation is successful, and the price is stable. For five kilograms, it costs Rp44,000. It means that [rice price] is below Rp9,000. I also noticed that the supply at vendors is still abundant.

Secondly, another important commodity which price is fluctuating is cooking oil, Indonesia’s brand new packaged cooking oil Minyakita. I noticed that the supply is adequate. Although the supply is not abundant, the price remains stable at Rp14,000.

Thirdly, I noticed that the egg price decrease. It decreases by only Rp1,000. Shallot price also decreases.

This kind of price stability is what we need. Do not let the rice price on the last month which triggered high inflation in all over Indonesia, not only in East Java province happens again. As of today, thanks to the market operation of the Bulog which started five days ago, the [rice] price slightly decrease here, even though the price in all regions has not dropped yet.

Fortunately, [some regions] will start the grand harvest during late February and early March [2023]. In February, the harvest area will reach around one million (hectares) nationally, while in March it will reach more than 1.9 million (hectares). It is my estimation. Thanks to the agricultural production and harvest yield, the stock is abundant. If the stock is huge whereas the demand is constant, the price will automatically go down. (AP/RAS/MMB)