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Price Hikes are not Caused by Speculators, Minister Says

11 July 2013 18:14 WIB

TEMPO.CO, Jakarta - Entering the Moslems holy month of Ramadhan, the prices of some food commodities soared. The four most reported commodities due to their significant price increase include beef, poultry, chilli, and shallots.

Trade Miniser Gita Wirjawan has denied that the price increase was caused by speculators who intentionally hoard certain commodities. "I don't see any large-scale hoarders," said Gita when visiting the low-cost market at the ministry's yard on Thursday, July 11.

Gita said that the high costs of some food products were purely due to the imbalances in supply and demand. "Prices are high because there isn't enough supply," said the Minister.

PINGIT ARIA

food prices


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