Jakarta. Indonesia is negotiating a potential export of 200,000 tons of rice to Malaysia in a deal estimated to be worth around Rp 2 trillion ($115.6 million), an official said on Thursday.

Ahmad Rizal Ramdhani, president director of state logistics agency Bulog, said negotiations with Malaysia have entered a second round.

“We have entered the second stage of negotiations. If we calculate 200,000 tons at Rp 10,000 per kilogram, the value would be around Rp 2 trillion,” Rizal said in Jakarta.

He added that several other countries, including Thailand and Vietnam, have also expressed interest in importing Indonesian rice. However, the proposed export agreement with Malaysia is currently one of Indonesia’s main priorities.

Earlier, Indonesia exported 2,280 tons of premium rice worth around Rp 38 billion to Saudi Arabia to help meet the needs of approximately 215,000 Indonesian Hajj pilgrims.

Agriculture Minister Andi Amran Sulaiman has said the export activity demonstrates the strength of Indonesia’s rice production and stockpiles.

“This is a positive momentum because our production is increasing. That is what we are exporting. We have also explored opportunities with several countries, including Saudi Arabia, Papua New Guinea, Malaysia, and the Philippines,” Amran said.