RI Gov’t May Import Brazilian Sugar Due to Price Fluctuations

The holding state-owned food company plans to expand its domestic sugar reserves via importing to address sugar price fluctuations despite expected headwinds to implement this measure.

Tim Redaksi

13 Okt 2023 - 19.10
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RI Gov’t May Import Brazilian Sugar Due to Price Fluctuations

Illustration - The sugar mill.

Bisnis, JAKARTA — Sugar price fluctuations are expected to continue due to challenges in supplying consumer sugar from abroad, prompting the government’s need to prepare the foundations for having enough reserves for 2024 despite facing import barriers.

As of Wednesday (10/11/2023), the average consumer sugar price touched IDR15,470 per kilogram, a slight decrease compared to Tuesday's IDR15,480 per kg. Meanwhile, the reference price for consumer sales set by the National Food Agency is IDR14,500 per kg.

Frans Marganda Tambunan, President Director of ID Food, said the risk of a sugar price surge emerges as the sugarcane milling season ends. “After the milling season ends, the price may increase,” Frans said at the Ministry of State-Owned Enterprises on Tuesday (10/10/2023).

Therefore, he believes that importing sugar is necessary for price stabilization. Additionally, next year's national religious holidays and Eid will occur in mid-April 2024.

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Editor: Yusuf Waluyo Jati
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RI Gov’t May Import Brazilian Sugar Due to Price Fluctuations

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