Indonesia. Bulog to Buy Up to 1 Million Tons of Local Corn

Indonesia’s National Food Agency has reported an increase in corn purchases under the state reserve replenishment program.

According to the National Food Agency (Bapanas), the Indonesian State Logistics Agency (Bulog) purchased 61,400 tonnes of corn as of August 5. Total stocks have reached 72,100 tonnes, including 72,000 tonnes in the state reserve and 146 tonnes in the commercial segment. Bulog’s goal is to increase the volume of purchases to 1 million tonnes in 2025.

Bapanas CEO Arif Prasetyo Adi said that purchases from farmers are being made at a price of $0.35 per kg with a moisture content of 18-20%. For corn with a moisture content of up to 14% and an aflatoxin content of less than 50 ppb, a surcharge of $0.06 is provided, which increases the purchase price to $0.41 per kg.

According to Bapanas Price Panel data as of August 6, the average price of dry maize at the farm gate approached the government procurement mark of $0.35 per kg. The previous month, the average was $0.32, up 4.43% to $0.33 per kg.

Tags: corn, Indonesia