Indonesia targets higher white sugar output in 2024

Published May 16, 2024

Tridge summary

Indonesia plans to boost its 2024 sugar output to 2.59 million metric tonnes by expanding its sugarcane planting area, following a poor harvest last year. The previous year's white sugar output dropped by 4% due to an extended dry season, causing consumer sugar prices to surge by nearly 30%. As the world's largest sugar importer, Indonesia aims for self-sufficiency in household sugar by 2028 and industrial sugar by 2030. The agriculture ministry has identified new land for plantations, with a slight increase in the harvested area expected this year. The sugar milling season started in mid-May, and the 2023 sugar import quota is set at 708,609 tonnes for household use.

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Original content

JAKARTA (May 16): Indonesia has set a target to increase 2024 sugar output to 2.59 million metric tonnes, driven by a bigger planting area after last year's weak sugarcane harvest, the agriculture ministry said on Thursday. White sugar output fell 4% last year to 2.3 million tonnes due to a longer-than-usual dry season, according to data from the Indonesian Sugar Association (AGI). At consumer level, sugar prices have jumped nearly 30% from a year earlier to 18,920 rupiah (US$1.19) a kilogramme amid low stocks, which the sugar mills group also attributed to a 14% drop in imports last year due to high global prices. At the beginning of this year, white sugar stocks for household consumption stood at 1.14 million tonnes, equivalent to less than five months of consumption. The agriculture ministry said the target reflects the country's aspiration to become self-sufficient by 2028 for household consumption and by 2030 for industrial use. Indonesia is currently the world's biggest ...

Source: Theedgemarkets