Indonesia to launch the market operation to stabilize sugar prices

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Jakarta: Indonesia’s Trade Minister Agus Suparmanto said that the government has taken steps to stabilize sugar prices in the country.

The announcement came after the report from National Strategic Food Price Information Centre (PIHPS) that the sugar prices surpassed price ceiling of Rp12,500 per kg and reached to Rp17,400 per kg on Wednesday.

“We have sufficient stock and we will soon launch market operations to keep a check on prices. The information from distributors has revealed that we have 1,60,000 tons of stock,” Suparmanto said.

To maintain the demand-supply gap, Indonesia has issued import permits for 438,802 tonnes of raw sugar for household consumption until May. Head of the ministry’s food security body, Agung Hendriadi, had earlier stated, “The country may prioritise purchase from India.”

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