Jakarta, Jan. 12 -- Indonesian President Prabowo Subianto said his government has reduced fertilizer prices by 20 percent through major reforms to the country's regulatory and distribution systems.

Speaking at the inauguration of an oil refinery project in Balikpapan, East Kalimantan, on Monday, Prabowo said the policy has directly benefited farmers by lowering prices and ensuring more reliable fertilizer supplies.

"For the first time in our nation's history, we have succeeded in lowering fertilizer prices by 20 percent," Prabowo said at the event, which was broadcast on the Presidential Secretariat's YouTube channel.

He said the price reduction was achieved after the government removed regulations that had previously hampered fertiliz...