Indonesia has issued import permits for 150,000 tonnes of white sugar, Musdhalifah Machmud, a deputy minister at the Coordinating Ministry of Economic Affairs told Reuters on 8th April.
Amidst the turbulence caused by the Covid-19 outbreak various food items prices have risen. This includes sugar. To bring prices down, the trade ministry has issued permits to import 2.4 million tonnes of raw sugar, reported Reuters.
The agribusiness Olam International has agreed to sell its remaining 50% stake in Indonesian sugar joint-venture Far East Agri to Mitr Phol Sugar Corporation for between US$82.5 million and US$85 million.
Indonesia has issued import permits for 438,802 tonnes of raw sugar for household consumption until May, Trade Minister Agus Suparmanto confirmed, reported Reuters.
Indonesia is revising its sugar import rules. Purchases will be limited to high pol raw from overseas, according to Indrasari Wisnu Wardhana, the Trade Ministry’s foreign trade director general, reported Reuters.
Indonesia is to impose import tax for Indian raw sugar to 5% from the previously US$38.9/tonne, according to a finance ministry regulation published on 27th June, reported Reuters.
Indonesia – Dutch colonizers supported economic growth through building sugar factories [Registered]
A new study in the Review of Economic Studies suggests that areas where Dutch colonizers built sugar factories in the 19th century are more developed today.
Indonesia has set raw sugar import quota of 2.83 million tonnes for industrial use in 2019, according to an informed source at Trade Ministry reported Reuters.
The Indonesian government has approved the planting of genetically modified cane in the country developed by the state sugar company PT Perkebunan Nusantara XI (PTPN XI), reported agrodigital.com
Indonesian President Joko Widodo, who’s seeking another five-year term in 2019, has opened up the floodgates to sugar imports to stabilize domestic prices. It worked, but now he’s facing the heat from local farmers, a key voting bloc, reports Bloomberg.