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Article

Differences in Local Rice Price Volatility, Climate, and Macroeconomic Determinants in the Indonesian Market

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Department of Meteorology, Indonesian Agency for Meteorology Climatology and Geophysics, Jakarta 10720, Indonesia
2
School of Environmental Science, Universitas Indonesia, Jakarta 10430, Indonesia
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Department of Biology, Faculty of Mathematics and Natural Sciences, Universitas Indonesia, Depok 16424, Indonesia
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Institute for Sustainable Earth and Resources (I-SER), Universitas Indonesia, Depok 16424, Indonesia
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Research Center for Climate Change (RCCC-UI), Universitas Indonesia, Depok 16424, Indonesia
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The Coordinating Ministry of Economic Affairs Republic Indonesia, Jakarta 10710, Indonesia
*
Author to whom correspondence should be addressed.
Academic Editor: Michael S. Carolan
Sustainability 2021, 13(8), 4465; https://doi.org/10.3390/su13084465
Received: 19 February 2021 / Revised: 4 April 2021 / Accepted: 8 April 2021 / Published: 16 April 2021
(This article belongs to the Section Sustainable Agriculture)
Rice is a staple food in most Asian countries, and food security is often viewed as having a rice supply to avoid a food crisis. The large number of people who have low incomes means there is a risk of household economic conditions being threatened when food prices are not controlled. We present a different approach by measuring rice price volatility at the local market level with climate and macroeconomic variables. The model succeeds in representing the variables that affect rice prices by an average of 75% nationally. The influence of macroeconomic variables and climate dynamics was found to have a non-uniform pattern from one region to another. The factors that dominate the volatility of rice prices in each province were different. To help address these problems, it is suggested to model and integrate climate data and macroeconomic variables. The output can be used to determine national policies for controllable factors and anticipate climate dynamics to reduce the risk that communities will have difficulty accessing food. View Full-Text
Keywords: food security; price volatility; macroeconomic determinants; climate dynamics food security; price volatility; macroeconomic determinants; climate dynamics
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MDPI and ACS Style

Putra, A.W.; Supriatna, J.; Koestoer, R.H.; Soesilo, T.E.B. Differences in Local Rice Price Volatility, Climate, and Macroeconomic Determinants in the Indonesian Market. Sustainability 2021, 13, 4465. https://doi.org/10.3390/su13084465

AMA Style

Putra AW, Supriatna J, Koestoer RH, Soesilo TEB. Differences in Local Rice Price Volatility, Climate, and Macroeconomic Determinants in the Indonesian Market. Sustainability. 2021; 13(8):4465. https://doi.org/10.3390/su13084465

Chicago/Turabian Style

Putra, Agie W., Jatna Supriatna, Raldi H. Koestoer, and Tri E.B. Soesilo. 2021. "Differences in Local Rice Price Volatility, Climate, and Macroeconomic Determinants in the Indonesian Market" Sustainability 13, no. 8: 4465. https://doi.org/10.3390/su13084465

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