Bulog To Manage Buffer Stocks For Rice, Sugar And Soybean

Jakarta, Sept 7 (ANTARA) - Chief Economics Minister Hatta Rajasa said the government agrees with the proposal to give the state run Board of Logistics (Bulog) the role of a buffer stock manager for rice, sugar and soybean. Bulog already serves as buffer stock agent for rice, buying the staple food from farmers to be released when the price is too high or supply is scarce in the market. Bulog is also the only agent allowed to import rice for domestic stock or consumption. "We agree with the proposal to give Bulog the role of a buffer agent," Hatta said here on Thursday. He said the decision of the government to revitalize the role of Bulog as a buffer agent is aimed at controlling imports of the three commodities. Sugar and soybean imports have so far been made by private companies. "Bulog, when it needs to import, don`t subcontract the job to private companies but it should do the job itself," he said. Private companies may import the three commodities when Bulog could not do the import alone, he said. "The private sector, therefore still has the opportunity to have a share in the job," he said. What is important is that Bulog may not run out of stock to forestall shortage in supply, he added. He said Bulog should be able to maintain price stability in the market. President Susilo Bambang Yudhoyono has decided to assign Bulog a duty as the stabilizer for the prices of essential goods, rice, corn, soybean, sugar and beef.