Indonesia has recently witnessed a significant increase in rice prices. According to today’s Food Price Panel report, the average price of medium-grade rice has risen by 0.39% to Rp 13,030/kg, while premium rice has increased by 0.82% to Rp 14,700/kg.
Internally, the rise in rice prices results from the conclusion of the harvest season and reduced production due to the prolonged drought caused by El Niño. Additionally, external factors influencing this increase include rising rice price in several other countries.
Indonesia doesn’t List The Most Expensive Rice Prices
However, Indonesia does not make it into Numbeo’s list of the 15 countries with the most expensive rice price in the world. Indonesia ranks 94th, ahead of countries like Egypt, Nepal, Sri Lanka, India, and Bangladesh.
According to Numbeo, the United States tops the list with the highest rice prices, with rice costing US$4.57/kg or approximately Rp 70,286/kg (at an exchange rate of Rp 15,380). For comparison, the cost of living and housing rent there is, on average, 150.2% and 417.4% higher than in Indonesia, respectively.
In second place is South Korea, where rice price stand at US$3.33/kg or Rp 51,215/kg. The cost of living in the K-Pop nation is, on average, 126.2% higher than in Indonesia, with housing costs also significantly higher at an average of 89.4%.
The 15 Countries with the Highest Rice Prices in the World as of September 2023 (per kg):
United States: US$4.57 or Rp 70,286
South Korea: US$3.33 or Rp 51,215
Canada: US$3.30 or Rp 50,754
Switzerland: US$3.21 or Rp 49,369
Japan: US$3.16 or Rp 48,600
Taiwan: US$2.95 or Rp 45,371
Norway: US$2.72 or Rp 41,833
Malta: US$2.64 or Rp 40,603
Sweden: US$2.64 or Rp 40,603
Israel: US$2.57 or Rp 39,526
Iran: US$2.57 or Rp 39,526
Germany: US$2.55 or Rp 39,219
Netherlands: US$2.55 or Rp 39,219
China: US$2.47 or Rp 37,988
Singapore: US$2.45 or Rp 37,681
While Indonesia may not feature on this list, it’s essential to monitor the rice market as prices continue to fluctuate due to various internal and external factors.