It turns out this is the culprit behind exploding sugar prices in Indonesia
Regulation & Compliances
Market & Price Trends
Published Dec 1, 2023
The price of consumer sugar in Jakarta has exceeded the purchasing limit set by the government, prompting the Ministry of Trade to call for increased sugar imports to maintain domestic supply availability. Currently, sugar imports are only at 56% of the target, so the Ministry of Trade aims to speed up the importation process. The lack of actual imports has contributed to the rising prices of sugar, and the government plans to take firm action to ensure adherence to import quotas.
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Jakarta, CNBC Indonesia - It has been observed that the price of consumer sugar continues to creep up. The National Food Agency (Bapanas) food price panel shows that the price of consumer sugar is already IDR 17,090 per kg. The price is above the purchasing limit set by the government of IDR 16,000 per kg. For this reason, the Ministry of Trade (Kemendag) is encouraging the acceleration of sugar imports to maintain domestic supply availability. The Director General of Domestic Trade (Dirjen PDN) of the Ministry of Trade, Isy Karim, said that currently the realization of sugar imports is still only 56%, so his party will speed up these imports. "So, for sugar, our efforts are to speed up importation. Import realization is still only 56%, so we will speed it up to maintain availability," said Isy when met at Pasar Senen Block III, Central Jakarta, Thursday (30/11/2023 ). Previously, the Head of the National Food Agency (Bapanas) Arief Prasetyo Adi warned sugar importers who were not ...