sugar prices may soon decrease

SURABAYA: The latest tender, which was held in Surabaya recently, set lower sugar prices for distributors.

People hope it will be a sign for sellers to lower sugar prices, which are still high after the Idul Fitri holiday season.

Adig Suwandi, corporate secretary of PT Perkebunan Nusantara (PTPN) XI, said the sugar prices reached in the tender may have been influenced by the government's decision to cut the income tax for imported sugar, including raw and white sugar.

At the tender, which was followed by 31 out of 35 sugar distributors, PTPN sold 5,100 tons of sugar from local farmers to distributors.

Sugar from Pasuruan and the eastern part of East Java was sold for Rp 8,055 per kilogram. Meanwhile, sugar from Madiun and the western part of the province was sold for Rp 8,102 per kilogram.

At the previous tender, said Adig, the agreed price was Rp 8,211 and Rp 8,335. Seeing the condition, it is possible the sugar price at the market will soon decrease. -JP