Jakarta, March 3 (Antara) - It is believed that the hikes in the prices
of rice in several regions since last month were caused by certain
parties who manipulated rice trade conditions by withholding stocks to
reap more profits.
However, the by-design price increases could have been orchestrated
only locally by individuals in their respective regions, not by a rice
cartel.
According
to the Business Competition Supervisory Agency (KPPU), the price hikes
of rice in recent days have nothing to do with a rice cartel or a rice
mafia.
"If speculation is being carried out by individuals, it cannot be
categorized as an act of a rice cartel or a rice mafia. This is only
individuals responding to the current market trend," KPPU Commissioner
Syarkawi Rauf said on Monday.
Yet, observers suspect that speculators are behind the price hikes of
rice in various regions in the country. This is indicated by the fact
that prices began to decrease after the government--the state-owned
logistics board, Bulog, in this case---launched rice market operations.
The decline in the prices of rice happened after President Joko
"Jokowi" Widodo visited Bulog in North Jakarta, asking it to conduct
market operations and launch the rice-for-the-poor (raskin) program.
This shows that the recent increase in the prices of rice was caused by
speculators, an observer of agricultural affairs, Khudori, stated.
The
prices of rice in Jakarta, especially in the Mayestik and Kebayoran
Lama markets, have started declining by an average of Rp200 per
kilogram, according to retailers.
"The
prices of rice here started to go down yesterday (Sunday, March 1),"
Fauzi, a trader at the Mayestik Market, affirmed on Monday.
Based on Antara's observation, the prices of different types of rice
began to decline at Mayestik market. The cost of the IR I type (64)
declined by Rp200 per kilogram from Rp10,000 to Rp9,800 per kilogram;
the price of IR II (64) fell from Rp9,500 to Rp9,000 per kilogram; and
the cost of IR III (64) dropped from Rp9,000 to Rp8,800 per kilogram.
"Although the price fall is small, I hope it continues till it reaches
the normal level and consumers are no longer burdened," Fauzi added.
A similar trend was observed at Kebayoran Lama Market in South Jakarta,
where the prices of rice began to drop on Sunday. The average decrease
in the prices of rice here was by some Rp200 per kilogram.
"The average decrease is not too high. It dropped by only Rp200 per
kilogram," Johan, a trader at Kabayoran Lama Market, remarked.
The price of IR I type (64) dropped from Rp9,000 to Rp9,600 per
kilogram; the cost of IR II (64) rice fell from Rp9,400 to Rp9,200 per
kilogram; and that of IR III (64) declined from Rp9,000 to Rp8,800 per
kilogram.
"A day after Pak (Mr.) Jokowi visited Bulog, rice prices declined by
some Rp150 to Rp500 per kilogram. This indicates that there were some
speculative factors at play earlier," Khudori pointed out on Monday.
Speculators
who withheld their stocks so far will earn only small profits if they
do not release them immediately because the Bulog will distribute its
reserves.
"At
Cipinang Market, which is a wholesale rice market in East Jakarta, the
price of rice dropped by Rp500 per kilogram. This means speculators
released their stocks," he explained.
According
to the observer, speculators fear that the government might release its
rice stocks and bring down their prices in the market.
After all, the president ordered for the release of some 300 thousand tons of rice.
The country has 1.4 million tons of rice reserves, which will be
adequate to meet demand till March-April, when harvest season starts.
Moreover, a legislator suspects that the price increases were
orchestrated by rice importers so that they could be allowed to import
rice before the arrival of the harvest season.
"There could have been a game at play by those who wanted to import
rice even though rice stocks are adequate," Mukhammad Misbakhun, a
legislator of the Golkar Party faction, said in Pasuruan, East Java, on
Monday.
He added that amid rice price hikes, Vice President Jusuf Kalla
inspected the rice stocks in the field, which were found to be adequate.
"There must be people who want to make a game out of the price of rice,
similar to the cases of price increases of shallots and chilies some
time ago," Misbakhum pointed out.
Misbakhum,
who is also the deputy secretary general of the Golkar Party, advised
the government to not import rice in the run-up to the harvest season.
He
added that importing rice will harm the interests of Indonesia's rice
farmers as it will drastically drive down the price of unhulled rice at
the farmer's level.
This
will give a chance to big traders to stockpile rice, after which they
will manipulate trade conditions at favorable times.
Despite
the suspicion that the price hikes of rice had been designed by
speculators, the KPPU has assured that no rice cartel or rice mafia was
behind the price rise seen recently.
KPPU Commissioner Syarkawi Rauf noted that the recent price hikes were not related to the rice cartel or mafia.
"Big traders and rice-hulling businessmen admittedly have the potential
to become speculators, but they cannot be categorized as a cartel
because they do not have the characteristics of one," he explained.
He also pointed out that they can be categorized as a cartel if they
cooperate and conspire to decide production, prices and sale operation
areas. These traits do not describe the rice traders of regions where
the rates surged.
"Marks of a cartel at play have not been found as prices differed in
different regions. For instance, they increased in Jakarta by 30
percent, in West Java by 10 percent, and in Central and East Java and
Sulawesi by lower than that," Rauf argued.
The oligopolistic distribution lines of big traders and rice-hulling
businesses admittedly provide a chance for them to become a cartel. But
those involved in these distribution lines are small in number, smaller
than those of farmers, rice collectors, wholesalers or retailers.
"Based on data we collected since 2007, big rice traders and hulling
businesses are only four in number in West Java and South Sulawesi.
There are seven in North Sumatra and several others in Lampung and East
Java," he revealed.
So if rice speculators were in fact behind the recent price hikes, they
are only local players, not those who can be categorized as being part
of a cartel. They are only individuals trying to respond to the market
trend, he reiterated.
***3***
(T.A014/INE)
EDITED BY INE
(T.A014/A/BESSR/A. Abdussalam) 03-03-2015 18:49:1 |
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