People should not only look at the negative side [of the current rising prices of basic commodities]. You should also look at the positive side. When the price of corn goes up, it is likely that the prices of chicken meat and eggs will go up too. That is a negative as far as consumers are concerned. But the positive side is that corn farmers are happy.I wish it were said by pop economists.
Today, it is Trade Minister Pangestu who shows her inner, true economist. Here goes (my interpretation):
Alright, we will keep an eye on the prices of rice, sugar, and kerosene. When they shoot up, we will import. In longer run perspective, we should focus on increasing productivity. As for the cooking oil, it is more of CPO domestic supply problem, so we might want to adjust again the export duty of CPO.That is, more market solution. (It's relieving that Ibu Mari seems not to buy the 'wajib pasok' option (domestic market obligation) -- an idea supported by Ministry of Industry and Ministry of Agriculture). Good going.