News

Ministry of Trade: High international prices cause sugar stock scarcity in Indonesia

Sugar
Indonesia
Market & Price Trends
Published Apr 20, 2024

Tridge summary

In Indonesia, the Ministry of Trade has pinpointed the high international market price of consumer sugar as the main reason behind the scarcity of sugar stocks in the modern retail market. Isy Karim, the Director General of Domestic Trade, highlighted that this has led to shortages and price hikes in several markets due to difficulties in procuring sugar at reasonable prices. The government is actively seeking solutions through discussions and meetings to tackle the sugar roadmap and pricing issues. Despite these challenges, there is an assurance that the national sugar stock, exceeding 330 thousand tons, is sufficient until the next sugar cane milling season in May 2024. To alleviate the impact of high global sugar prices and boost domestic production, the National Food Agency has temporarily adjusted the government's reference price for sugar to IDR 17,500 per kilogram until May 31, 2024.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

REPUBLIKA.CO.ID, JAKARTA -- The Ministry of Trade (Kemendag) said that the high price of consumer sugar on the international market is one of the causes of the scarcity of sugar stocks in the modern retail market. Director General of Domestic Trade, Isy Karim, said he had received reports regarding shortages and increases in sugar prices in several markets. "Because it is difficult to get sugar there (international market) at a price that is acceptable (the highest retail price) in Indonesia. The price is beyond high," said Isy at the Ministry of Trade Office, Jakarta, Friday (19/4/2024). Currently, the Ministry of Trade together with a number of related ministries and institutions are discussing the causes of the shortage and increase in sugar prices. The Coordinating Ministry for Economic Affairs (Kemenko) has also started leading meetings regarding the sugar roadmap. "I have been to the Coordinating Ministry, now there is a sugar meeting there regarding the sugar roadmap. At ...
Source: Republika
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.