TEMPO.CO, Jakarta - The President Director of Food Holding ID FOOD Frans Marganda Tambunan mentioned that the company received Rp1.5 trillion in loans from the government through Himbara, the state-owned banks group.

Frans stated that the fund will be utilized to increase the food reserve as the government has appointed ID FOOD as the domestic food price stabilizer.

ID FOOD is planning to import 125,000 tons of sugar from Brazil. "Immediately after the government's decision, we'll execute [the import]," he said when met by Tempo on Wednesday, October 4, 2023, at Rawamangun Market, Jakarta.

According to Franz, the import is necessary since Indonesia experiences a sugar deficit of around 800,000 tons each year. Indonesia usually imports sugar from Thailand, India, and Brazil. However, India has recently put an export ban on sugar.

In addition, the company will absorb 50,000 tons of domestically produced sugar from state-owned sugar producers.

Presently, the sugar reserve amounted to 50,000 tons . ID FOOD will coordinate with the government, especially the National Food Agency to realize the rest of its task to procure 250,000 tons of sugar.

Meanwhile, ID FOOD has only been fulfilling 50 percent of the government sugar reserve. "The reserve will be used to safeguard the sugar prices and sugar stocks which always rise at the end and beginning of the year," he concluded.

RIANI SANUSI PUTRI

Editor's Choice: ID FOOD Importing 107,900 Tons Sugar to Meet National Needs

Click here to get the latest news updates from Tempo on Google News