Trade Minister Reports Sugar Price Rise At Coordination Meeting

Jakarta (Antara Bali) - Minister of Trade Thomas Lembong has stated that his party has reported an increase in the price of sugar worldwide in the coordination meeting about consumable commodities in Jakarta on Thursday.

The meeting was held at the Coordination Ministry for Economic Affairs' offices.

"During the meeting, I reported that the price of sugar is at an all time high globally, as per the information we have received. The price of sugar has gone up by 26 percent in US dollar terms this year alone," the minister said following the meeting.

Lembong stated that both, the supply and the price trend of sugar, were unfavorable at the moment.

"We also reported the notifications we have received from countries across the world, regarding the preliminary precautions we have to be take regarding the global rice supply, because some parts of Asia are still suffering from intense drought caused by the El Nino phenomenon that has just passed," he stated.

However, the minister assured that the country's rice stock is sufficient at the moment, as the government has imported 1.5 million tons last year.

"The Indonesian Bureau of Logistics (Bulog) has stocks worth 2.1 million tons. During Ramadan, we normally expand the market operation from 150 thousand tons a month to 390 thousand tons. It is all possible because of the government's efforts last year to import 1.5 million tons of rice," he reiterated.

The Minister of Agriculture, Amran Sulaiman, had previously guaranteed that adequate stocks are there of food, especially shallots, chicken, granulated sugar and rice, as the Eid approaches.

He had given details that the stock of shallots at 251,513 tons exceeds the public's needs, estimated at 175,642 tons. In case of granulated sugar also, 7,417,487 tons of stock is there, more than the need which is estimated at 5,626,400 tons. In case of chicken, the 217,244 tons of stock is twice as much as the need, estimated at 493,985 tons.

Regarding the prices of these primary foodstuffs, the minister informed that the price of shallots is targeted to go down to 25,500 rupiahs per kilogram, medium grade rice at 9,500 rupiahs per kilogram, granulated sugar at 12,500 rupiahs per kilogram, and chicken will be priced 30,000 rupiahs for each kilogram, or a maximum of 32,500 rupiahs. Lastly, beef price is expected to go down to 80,000 rupiahs for a kilogram.

The Minister of State Owned Enterprises, Rini Soemarno, was seen attending the coordination meeting, along with the Minister of Trade, Thomas Lembong, and chairman of the Indonesian Bureau of Logistics, Djarot Kusumayakti. (WDY)