Prices increase despite fasting
September 8th, 2008
SURABAYA: The prices of foodstuffs in East Java rose between five percent and ten percent during the first week of the fasting month.
The basic commodities price hikes occurred at the Pabean and Keputran traditional markets in Surabaya as well as in Malang and Kediri.
However, increased prices for cooking oil, rice, vegetables, flour and meat have not led to panic at the local markets because demand has remained relatively constant.
The price of eggs rose by Rp 2,000 (21 US cents) to Rp 15,000 per kilogram from the previous Rp 13,000 per kg, and the coconut price rose to Rp 4,500 from Rp 3,000. Meanwhile, vegetables prices generally slumped in Sidoarjo and Gresik.
The beef price rose slightly to Rp 58,000 per kg from Rp 48,000, chicken jumped dramatically from 14,000 per kg to Rp 40,000 per kg, and cooking oil was down to Rp 7,250 from Rp 8,250 per liter in Jember, Banyuwangi and Situbondo.
The provincial industry and trade office was still coordinating with producers and distributors to control the both hikes and speculators, ensuring supply of basic commodities.
“The demand for basic commodities is not increasing because a majority of people are fasting. The rising prices have something to do with the market psychology on the eve of the Idul Fitri celebrations,” said a senior official at the industry and trade office Wednesday. -JP
Source: The Jakarta Post
Entry Filed under: East Java News
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