Last Updated :
20 November 2009 at 16:45 IST
Indonesia rice, soybean output to exceed target
JAKARTA (Commodity Online) : Rice production in Indonesia is expected to hit 64 million tons, according to country’s agriculture ministry.
In a statement issued here the ministry said, “We are optimistic the production of dried unhulled rice could reach 64 million tons, up 5.83 percent from 2008”.
Trading platform that even a 5 year old can trade. Join now
The expected figure is even better than the forecast of 63.68 million tons by country’s National Bureau of Statistics.
hike in the rice production had been driven by climate conditions which were very supportive while drought and floods had been less so that they did not disrupt production, it said.
Distributions of top seeds have also helped contribute to the rise of rice production as well as the presence of the Integrated Crops Management Field Schooling.
"The supply of subsidized fertilizers is sufficient and scarcity of fertilizers has also never happened," the statement said.
The ministry also expected increase in soybean production and predicted it would increase to above one million tons this year.
"The target of above one million tons is extraordinary. It is up by around 24 percent from last year`s production which was recorded at 700,000 tons,” it said.
Based on third forecast figures production has now reached 966,000 tons. Soybean production had been boosted to reduce dependencey on imports.
With average soybean production increased above 20 percent it was expected in 2014 Indonesia would be self-sufficient in the commodity with a production capacity of 2.5 million tons a year.
MCX SOYABEAN 01 January 2020
contract was trading at
Rs 0 . What's your view on it?
After reading this article, people also read: