
Indonesia has set aside an additional 1 million tonnes of rice under its SPHP price stabilisation programme for the Christmas and New Year period. The government said it holds about 4.5 million tonnes of rice reserves, and it is selling SPHP rice at 12,500 rupiah per kilogram, about 2,500 rupiah below market, with the government covering the gap.
State rice releases from reserves cap domestic prices and reduce import pressure in Indonesia, a large rice buyer, which is mildly bearish for Asian rice export prices. The programme also includes corn for small poultry farms, a modest feed demand signal.
After 100 past bearish policy events, Rough Rice moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% over 20.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.