REPUBLIKA.CO.ID, JAKARTA -- The Trade Ministry has issued license for the importation of 1.8 million tons of raw sugar to meet local food and beverages industry demand in the first semester of 2018. The ministry's Director General of Foreign Trade Oke Nurwan said, the import license would be given to 11 companies in the country and the product would be processed to meet the demand of local food and beverages industry.

"We have issued this, for 1.8 million tons in the first semester of 2018," Oke said after a working meeting with Commission VI of the House of Representatives here on Thursday.

The import license was issued after the ministry received recommendation from related ministry. Allocation of raw sugar import in 2018 has reached 3.6 million tons that would be given to 11 company members of the Indonesian Refined Sugar Association (AGRI).

The raw sugar that would be processed to crystal refined sugar, would be traded in auctions that would be started in January. PT Pasar Komoditas Jakarta (PKJ) was assigned as the organizer of the auction under a ministerial decree no. 684/M-DAG/KEP/5/2017 on refined sugar auction organizer.

Crystal refined sugar auction market is a real time electronic auction with bidding and offer method, buyers and sellers volume is set at one ton, five tons and 25 tons.

The auction is expected to maintain supply, distribution and stability of national sugar price, while providing equal opportunity for big and small industries in acquiring supply of raw material.

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