Indonesia will allow imports of 3.8 million tonnes of raw sugar this year, an industry ministry official said on Friday, up by a third from an earlier forecast as the world's top importer looks to meet soaring industrial demand. Raw sugar imports stood at 2.5 million tonnes in 2012 and Faiz Achmad, director of food and fishery at the industry ministry, said in July that they were forecast to rise to 2.85 million tonnes this year. But Achmad told Reuters on Friday.
"In 2013, the government has issued raw sugar import permits for around 3.8 million tonnes." The lion's share would go to domestic refiners, he added. The latest estimate is considerably less than industry estimates of 5.4 million tonnes for this year, after heavy rain hit domestic output. Raw sugar consumption in Indonesia's food and beverage industries climbed by 9 percent last year and similar annual gains are forecast over the next five years as a boom in population boosts domestic demand.
Southeast Asia's largest economy has abandoned its goal of being self-sufficient in white sugar production by 2014 after struggling to boost output due to land license red-tape, competition for land and under-investment. It buys raw sugar from Brazil, Thailand and Australia.
Comments
Comments are closed.