Indonesian president decries rice cartel practices, cites huge annual losses

NAMPA / Xinhua

2025-07-21

JAKARTA, July 21 (Xinhua) -- Indonesian President Prabowo Subianto on Monday expressed deep concern over massive losses inflicted by fraudulent practices in the country's rice trade. He said he had received reports indicating that so-called food cartels had manipulated both rice prices and supply, resulting in annual losses of up to 100 trillion rupiahs (around 6.1 billion U.S. dollars). The profits were in the hands of only a few large busine......

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