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Jakarta Post

Indofood, ICBP struggle to maintain efficiency amid greater competition

  • Riska Rahman

    The Jakarta Post

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Jakarta   /   Fri, March 27, 2020   /  12:31 pm
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Products of PT Indofood CBP Sukses Makmur (ICBP)(tempo.co/Subekti)

Food manufacturing giant PT Indofood Sukses Makmur and its subsidiary, processed food company PT Indofood CBP Sukses Makmur (ICBP), are facing a tougher challenge from their competitors, which have begun to cut prices to boost their market share. Corporate analysts said that the two companies’ competitors cut their profit margins to tap into growing demand amid a wave of panic buying among consumers due to fears that the partial lockdown imposed by the government might disrupt supplies. “Consumers are paying more attention to the price of instant noodles [sold] at big quantities, and it shows that Indofood group’s competitors have become the winners,” BNI Sekuritas equity analyst William Siregar told The Jakarta Post on Tuesday. He said their competitors were offering much lower prices, a business strategy that could undermine the market share of Indofood...