BULOG Seeks Loans
Friday, 19 June, 2009 | 13:53 WIB

TEMPO Interactive, Jakarta: State-owned Logistics Agency (BULOG) is applying for a loan at the Indonesian Bank of Export (Bank Ekspor Indonesia) to finance rice exports.

BULOG President Director Mustafa Abubakar said his company wanted to export medium-grain rice to the Philippines, Malaysia, and Timor Leste.

“An estimated Rp450 billion funds is needed to export one million tons of medium-grain rice,” he said yesterday.

Abubakar said that the medium-grain rice will be taken from the surplus of additional procurements obtained from the year-end. which is estimated to reach 1.3 million tons.

In addition to the government’s 2.5 million tons of rice reserves in BULOG, additional procurement is at 1.9 million tons. Currently, BULOG has already exported aromatic rice at a relatively small
rate of 1000 tons.

EKO NOPIANSYAH