
Bank Indonesia's JISDOR reference rate was Rp18,148 per dollar on November 3, versus Rp18,161 the previous day. The Finance Ministry warned that higher oil prices could raise energy subsidy spending, and official data showed a $23.60 billion oil-and-gas trade deficit for January to September.
Higher oil prices widen Indonesia's energy import bill and budget pressure, which can weigh on the rupiah and reduce import purchasing power for feed inputs. The effect on feed prices is indirect and modest.
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