The World Bank in global economic projections ask developing countries to be wary of rising of food prices to the possibility of climate disruption and strong demand in 2011. "We are very concerned with the rising food prices, and this lasted throughout the world. We see some similarities with the situation two years ago in 2008, only shortly before the crisis," said Director of the World Bank's Development Prospects Hans Timmer.
According to him, rising food prices could affect the international market. For that each country should ensure the sustainability of commodity trading and setting up food reserves for the domestic stock prices are not creeping up. "Global food crisis does not stop immediately. It has lasted almost throughout the year and requires a tight situation for these disorders can be overcome and prices returned to normal," he said.
World Bank Senior Economist for Indonesia Enrique Blanco Armas add rice price increases that occurred in Indonesia due to lack of supply and to stabilize prices, the government needs to conduct market operations intensively before the harvest in February. "The operation being carried out in the market should diinsentifkan for before the harvest to ensure price certainty," he said.
In addition, according to him, the government also needs to provide incentives to farmers to increase rice productivity and ensure smooth distribution. For that, throughout this year required the efforts to tackle climate change and weather that affect the productivity of commodity prices worldwide and affect overall inflation.
"Not only Indonesia that experienced this, especially Indonesia's rice price is higher than international prices. If you do not prepare food reserve, as a whole could affect inflation and economic growth," he said. The World Bank noted that weather-related disruption of food production drive the inflation rate to 6.9 percent yoy in December, 6.3 percent yoy in November from 5.7 percent yoy in October.
The price of grain (including rice) grew by 25 percent yoy, and the highest level since the food crisis in 2006 due to lower middle class consuming more servings of great food in the composition of their consumption. Core inflation remained at 4.3 percent and even increased gradually, still below the levels recorded in 2008 so that BI does not change the benchmark rate (BI Rate) at the rate of 6.5 percent.
Meanwhile, world commodity prices began to rise in recent months. In November, non-energy commodity prices in U.S. dollars, prices of food and raw materials each increased by 3.4 percent, 4.9 percent and 7.6 percent. Booster and main factor was the strong demand from new economies, especially China and supply disruptions in the agricultural sector.
According to him, rising food prices could affect the international market. For that each country should ensure the sustainability of commodity trading and setting up food reserves for the domestic stock prices are not creeping up. "Global food crisis does not stop immediately. It has lasted almost throughout the year and requires a tight situation for these disorders can be overcome and prices returned to normal," he said.
World Bank Senior Economist for Indonesia Enrique Blanco Armas add rice price increases that occurred in Indonesia due to lack of supply and to stabilize prices, the government needs to conduct market operations intensively before the harvest in February. "The operation being carried out in the market should diinsentifkan for before the harvest to ensure price certainty," he said.
In addition, according to him, the government also needs to provide incentives to farmers to increase rice productivity and ensure smooth distribution. For that, throughout this year required the efforts to tackle climate change and weather that affect the productivity of commodity prices worldwide and affect overall inflation.
"Not only Indonesia that experienced this, especially Indonesia's rice price is higher than international prices. If you do not prepare food reserve, as a whole could affect inflation and economic growth," he said. The World Bank noted that weather-related disruption of food production drive the inflation rate to 6.9 percent yoy in December, 6.3 percent yoy in November from 5.7 percent yoy in October.
The price of grain (including rice) grew by 25 percent yoy, and the highest level since the food crisis in 2006 due to lower middle class consuming more servings of great food in the composition of their consumption. Core inflation remained at 4.3 percent and even increased gradually, still below the levels recorded in 2008 so that BI does not change the benchmark rate (BI Rate) at the rate of 6.5 percent.
Meanwhile, world commodity prices began to rise in recent months. In November, non-energy commodity prices in U.S. dollars, prices of food and raw materials each increased by 3.4 percent, 4.9 percent and 7.6 percent. Booster and main factor was the strong demand from new economies, especially China and supply disruptions in the agricultural sector.
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