- The National Food Agency has published a new list of referral prices for purchases at the manufacturer level (“Purchasing Referral Prices”) and referral sales prices for purchases at the consumer level (“Sales Referral Prices”) for the following commodities: soybeans, red onions, garlic, red chilis, crinkled red chilis, consumable sugar and beef/buffalo meat (collectively referred to as “Commodities”) through the issuance of Regulation No. 12 of 2024 (“Regulation 12/2024”), which has been in force since 26 September 2024. The enforcement of Regulation 12/2024 has resulted in the repeal and replacement of the previous framework that set out the aforementioned Purchasing Referral Prices and Sales Referral Prices for Commodities (collectively referred to as “Referral Prices”), i.e. Regulation of the National Food Agency No. 11 of 2022, as amended by Regulation No. 17 of 2023 (collectively referred to as “Regulation 11/2022”).
- As outlined comprehensively under the Appendix to Regulation 12/2024, Referral Prices have been stipulated based on the following factors: 1) Purchasing Referral Prices: Manufacturing cost structures and relevant profits; and 2) Sales Referral Prices: Procurement costs, distribution and relevant profits. The currently stipulated Referral Prices will be subject to evaluations that will be conducted by the Head of the National Food Agency either annually or as required.
- It should be noted that the Head of the National Food Agency is authorized to assign Perum BULOG to purchase relevant Commodities in accordance with the stipulated Referral Prices if any of the following conditions occur: 1) If the relevant manufacturer’s price is lower than the stipulated Purchasing Referral Prices; and/or 2) If the relevant consumer price is higher than the stipulated Sales Referral Prices. Similarly, State-Owned Enterprises (Badan Usaha Milik Negara – “BUMN”) operating within the food sector may also be assigned to purchase said Commodities in accordance with the stipulated Referral Prices upon their securing approvals from the Minister of BUMN.
- It should also be noted that in engaging in the above-described assignments, both Perum BULOG and BUMN operating within the food sector are permitted to cooperate with various parties, including regional governments, regionally owned enterprises, cooperatives and private sector players.
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