The price of sugar in Indonesia exceeds the government's reference

Sugar

Indonesia

Published Mar 17, 2023

Tridge summary

Jakarta, CNBC Indonesia - The price of sugar has been observed to continue to move up, even though the days of Ramadan are numbered. The Food Agency's Price Panel shows that the price of sugar continues to move up, from the beginning of 2023 which was recorded at IDR 14,340 per kg.

Original content

The current price is higher than the same period last year which was recorded at IDR 14,360 per kg. Where, data at 14.32 WIB (Thursday, 16/3/2023) The Food Agency's Price Panel records that the national average sugar price at the retail level is IDR 14,380 per kg. In fact, at the end of 2022 the government has set a reference price for sugar consumption at Rp. 13,500 per kg in modern retail and Rp. 14,500 per kg in modern retail in Eastern Indonesia. However, Main Director of Food Holding ID Food Frans Marganda Tambunan said that the current increase in sugar prices is still within reasonable limits. On the other hand, citing Tradingeconomics, world sugar prices are predicted to move in the range of 21-22 US dollar cents per pound. It has jumped from its initial position in 2023 which is still around 18 US cents per pound. At the end of February 2023, the world price of sugar even had a record to 22.08 US cents per pound. Then fell to 20.55 US cents per pound in the afternoon ...

Source: Cnbcindonesia