ASEAN strives to make better use of rice reserve

JAKARTA (Xinhua) - Some ASEAN countries proposed to expand the use of ASEAN's rice reserve to address the soaring price of the commodity among member countries and sought the possibility to develop its potential as food basket, Indonesian minister said here on Friday.

The statement came as the region had just experienced high inflation due to lacking of food supply caused by extreme weather phenomenon.

Indonesian Coordinating Minister for Economy Hatta Rajasa told a joint press conference after ASEAN economic minister meeting at the 18th ASEAN Summit that Indonesia and some other ASEAN countries suggested to use the ASEAN rice reserve to help the member countries where rice prices soared.

He said that Indonesia and other countries suggested that the rice reserve should not only used for emergency situation, but also for the countries that suffer the vulnerability of skyrocketing rice prices.

ASEAN countries along with China, South Korea and Japan had agreed to collect up to 878,000 tons for the rice reserve, and Indonesia was to contribute 12,000 tons, Indonesian Agriculture Minister named only Suswono said here on Friday.

The countries are to sign a food security commitment in October in Jakarta, he said.

Minister Rajasa said that establishment of foot basket was another solution for the compliance of the food supply in the region.

"The territories of Indonesia, Malaysia and the Philippines is the area that we can develop as food basket," he said.

(Source: http://www.philstar.com/Article.aspx?articleId=683402&publicationSubCategoryId=200)