Prabowo Highlights Food Security Amid Stock Market Volatility
Reporter
March 21, 2025 | 05:49 pm
TEMPO.CO, Jakarta - Indonesian President Prabowo Subianto asserted that food prices are stable and under effective control ahead of Eid al-Fitr. This condition, he assessed, contributes to national security. He considered a secure food supply to be of greater importance than the fluctuations in stock market values.
"Food is the prime. Stock prices may fluctuate, but food security keeps the country safe," he said during a Cabinet Meeting at the Merdeka Palace, Central Jakarta, on Friday, March 21, 2025.
He said that food production is in a favorable state as Eid al-Fitr approaches. He also indicated that he is personally monitoring the prices of essential goods. "Perhaps bird's eye chili prices increased. But, they have begun to decline," he noted.
He expressed appreciation to the ministers responsible for the food sector for their efforts in maintaining price control. The President reiterated that stable food prices are preferable to volatile stock market figures.
Prabowo acknowledged that the recent decline in stock prices primarily affects a limited segment of the population. He then identified several members of the Cabinet who hold stock investments, including Minister of Maritime Affairs and Fisheries, Sakti Wahyu Trenggono; Minister of Housing and Settlement, Maruarar Sirait; and Minister of Investment and Industrial Estate, Rosan Roeslani.
"I see signs of stress from the stock decline among some of you, Maruarar, Trenggono, sitting side by side there," he remarked.
He further suggested that the Head of the National Team for the Acceleration of Poverty Alleviation, Budiman Sudjatmiko, is not experiencing similar stress due to his lack of stock holdings. "Budiman does not. Amran? He does not engage in stock trading. Rosan is already bald, so it doesn't matter," he said.
He then assessed that the Head of the National Team for the Acceleration of Poverty Alleviation Budiman Sudjatmiko is not stressed because he does not own stocks.
"Budiman doesn't. Because he doesn't have stocks. Amran? He doesn't play stocks. Rosan is already bald, so it doesn't matter," he said.
As widely reported, the Composite Stock Price Index (IHSG) experienced a significant drop, declining by more than 5 percent before closing at 6,076 (down 6.11 percent) during the first trading session on Tuesday, March 18, 2025. This situation prompted the Indonesia Stock Exchange (IDX) to implement a temporary trading halt of 30 minutes.
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