"It was agreed that the joint ASEAN food reserve will be 780,000 tons with 12,000 tons to be provided by Indonesia but President Susilo Bambang Yudhoyono has decided our contribution will be increased to 25,000 tons," Agriculture Minister Suswono said after a coordination meeting to discuss water resources management here on Tuesday.
The minister said the ASEAN food reserve was needed to overcome emergency situations and food price turmoils which could happen any time.
"Food prices are now on an upward trend, and the ASEAN food reserve can be used in market operations in the region," Suswono said.
He explained that Indonesia at present was the largest rice consumer in ASEAN but it also expected its rice production to continue to increase.
"ASEAN has good production and therefore we want to cooperate to step up investment. That`s what the president has said," Suswono added.
Meanwhile, Coordinating Minister for Economy Hatta Rajasa said after attending the meeting that the ASEAN Economic Community Council as part of the ASEAN Summit on Friday said the ASEAN member countries had done a lot so far, including the establishment of joint rice reserves which would be used during an emergency situation.
"Indonesia as the head of ASEAN has proposed that the rice reserves should be used during a food crisis or during a price hike so that it would help the country facing the difficulty," Hatta Rajasa said.
He said that for the rice reserves, ASEAN + 3 had a combined rice stock of 720,000 tons with a volume provided by Indonesia reaching 14,000 tons.
(Uu.O001/H-AJM)
Editor: Priyambodo RH
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