Ministers to Meet Over Possible Sugar Imports
The ministers of trade, industry and agriculture, along with the head of the State Logistics Agency, are expected to attend a coordinating meeting today to assess domestic sugar prices and decide whether to import more refined sugar in a bid to help producers and provide relief for consumers.
Food and beverage firms rely on refined sugar for their goods, but since prices have climbed, analysts say they are instead buying cheaper unrefined white sugar, which is usually for household use. Retail prices of white sugar have soared since January when it sold for Rp 6,649 per kilogram to Rp 10,700 at present, and are expected to rise further as Idul Fitri nears.
The government has an import quota of 1.2 million tons of refined sugar per year for food industries.