Indonesia, Dec. 20 -- Coordinating Minister for Food Zulkifli Hasan announced the plan to build seven new fertilizer plants by the state-owned fertilizer company, PT Pupuk Indonesia, over the next five years.

"Through this policy, the government has set a 20 percent reduction in fertilizer prices," he confirmed in Magelang on Friday (December 19).

Hasan conveyed this statement at a Farmers' Consultation and Socialization of the Policy on Changes to the Highest Retail Price (HET) for Subsidized Fertilizer in Pucang Village, Magelang District, Central Java.

"The value of fertilizer subsidies remains relatively stable, around Rp45 trillion (US$2.6 billion) to Rp45.5 trillion (US$2.64 billion), and may only increase slightly to around Rp46...