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

Published 2023년 3월 16일

Tridge summary

The price of sugar in Indonesia is increasing, despite the upcoming end of Ramadan. The national average price at the retail level is currently IDR 14,380 per kg, which is higher than the same period last year. The government has set a reference price of Rp. 13,500 per kg in modern retail and Rp. 14,500 per kg in modern retail in Eastern Indonesia. Despite a 5% increase compared to last year, the government assures that the price increase is reasonable and within their reference limit. Indonesia continues to import sugar to meet its consumption and industrial needs, with ID Food and PTPN being assigned to import 107 thousand tons of consumption sugar for the Fast-Eid holiday.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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. 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 ...

Source: Cnbcindonesia