return vOut; Recently, the Indonesian Trade Ministry is in the process of revising the rule, which will include lowering the Icumsa level for raw sugar imports to 600 from 1,200, Director General of Foreign Trade Indrasari Wisnu Wardhana, said on Wednesday. Tweet. In this photograph taken on December 7, 2018 Indian labourers harvest sugarcane in a field along the Lucknow to Faizabad highway in northern Uttar Pradesh state. We cannot be naive and see growth, when we don’t exactly know the consumption number,” he said. } Price per edition: • IDR 150,000• USD $10• EUR €10• SGD S$15, Voting possible:  15 April 2020 12:49 - 01 February 2021 00:00, Please sign in or subscribe to comment on this column, - Indonesia Enters Economic Recession in Q3-2020, 2020 Edition (2nd Half): the Great Islamic Bank Merger, Economic Growth Update: Outlook for Indonesia and the World Remains Uncertain, Economy of Indonesia Enters Recession: GDP Contracts 3.49% in Q3-2020, Economic Update: Indonesian Policymakers Finally Become Realistic in Terms of 2020 Outlooks, Indonesia Investments' August 2020 Report - In Search of a Vaccine, Indonesian Economy Under Pressure in Q1, Bad Omen for GDP Growth in Remainder of 2020, Economy of Indonesia Under Pressure: GDP Growth at 2.97% in Q1-2020, Consumer Price Index; After 3 Straight Months of Deflation, October 2020 Brings Mild Inflation, Indonesia Investments' Subscriber Update - US Elections & Indonesia-US Relations, Indonesia Investments' Subscriber Update - Indonesia Enters Recession, Indonesia Investments' Economic Update - October 2020 (2nd Half) Report, Copyright © Van der Schaar Investments B.V. Delft The Netherlands. Is this [import plan] aimed at getting rid of sugarcane farmers, so they can continue to import?”. Triyono went as far as to say the proposed tax would eventually lead to 120,000 drinks industry layoffs. How many times have minimum wages increased? The IMF now projects global gross domestic product (or GDP) to contract by 4.9 percent year-on-year (y/y) in 2020, down from its earlier projection of minus 3 percent (y/y). It also reduced import duties for Indian raw sugar to around 5 percent to further bolster the initiative. The regulation will be issued as soon as possible, he said. A dip in Indian and Thai sugar … Four years. Indonesia's Industry Ministry has defended the integration of sugar mills with sugarcane plantations in the country to boost production capacity at the mills, according to Antara News. x��{��ƕ��秠���VS@��${lK�#��8Vbg�l6��Iv���3g>�~���G�^``�V:�I��[��n�*�c���˛v���u����v�.�Ͷ;��~�|�矗�.��|���f����F�����ݭW��pX�~�l�ҭw��rX��O�����;�q������n��K�5t��'���6˵��/M������.����ӷ˭��G�ٯWMwX�����ߖ�޾\����Z>^�����������aR���Q:lV뮩Q�����gy�ɫ_����F��y�_W���-���+�cO�{>�y �o��&4���_�����˷?e�]~,��_���~uhv����B�qw��?~�8�R�6�Ϧ�7��o��>IkBG�|�06�=���/��M��/ Just as the world’s top sugar traders forecast a global shortage of the commodity, No. It was released more-or-less at the beginning of the COVID-19 crisis when semi-lockdowns were imposed across the world (while China was near its full recovery). Indonesia may obtain more sugar from India to gratify domestic needs as local supplies are unlikely to be sufficient to meet demand this year. Processors will probably buy 3.3 million tons of raw sugar from abroad, up from 2.6 million tons this year, according to Bernardi Dharmawan, chairman of the Indonesia Sugar Refiners Association. Bank Indonesia currently also pledges for more easing to come as it shifts focus to support growth.” rate, thus triggering the flow of portfolio back to Indonesia. Read also: Bulog seeks approval to import 200,000 tons of sugar ahead of Ramadan. How Increasing Sugar Tax Could Be Profitable in Indonesia Government, Indonesia Aims to Set 15 Sugar Factories in The Next 5 Years to Respond Domestic Sugar Demand, Indonesia is Being ‘Golden Opportunity’ for Global Sugar Exporter, Vietnam to Seek Efficiently Restructure Domestic Sugar Industry, Looking ahead to World Sugar Outlook in 2020-2021, More Ready, More Worthwhile Prepare to Enter the Sugarcane Harvest Season, Developing of Mask Material Using Nanocellulose to Fight against COVID-19. 1 raw-sugar importer Indonesia says it wants a record amount of the sweet stuff. Bank Indonesia currently also pledges for more easing to come as it shifts focus to support growth.” rate, thus triggering the flow of portfolio back to Indonesia. ��8c����U��p�o�ٿ��*��U������Ǣ˫����˳�+ G��wSR����7'�o��7Ao�ȭW�u{X��~��xm�v��7�[��ڍ�j7�b\�!���Kv;�Tm޸G�V��-r���h��}�l��z�9�W/���[��7���j�.�{�.����p������pp�#��f�Z�6�v�����M�o��K&jx1�h�P�fq�>В��q!�W������]�_����|�'X>��[^][��zj��[�"���_ޗݳ���{8���eG. if(i!=(aTags.length-1)) As well as predicting the tax would raise US$920m in the first year, and US$27.3 billion over 25 years, it found that over 25 years the tax paid by the poorest 20% of Indonesians would be US$0.5bn, and US$15.1bn for the richest 20%. Alongside the sugar tax proposal were ones to impose duties on new vehicles that emit carbon dioxide, and taxes on plastic bags, as part of efforts to control pollution. We have only an assumption and we need to conduct a thorough survey,” Dharmawan said. Elsewhere, Laos and Cambodia both tax sugary beverages at 5-10% and 10% respectively. Sugar demand from food and drink manufacturers is stable, Dharmawan said in Jakarta on Wednesday. Related tags: President Joko Widodo inaugurated Indonesia's largest sugar factory and saw the sugarcane harvest in southeast Sulawesi Province on Oct 22, according to WAH. In Indonesia, finance minister Mulyani Indrawati decided to include the sugar tax proposal as part of a wider one that will also impose environmental tariffs on polluting vehicles and plastic waste. In Singapore last year, drinks manufacturers were told to expect an outright ban on advertising beverages that are high in sugar, along with front-of-pack warning labels as part of the government’s war on diabetes. Group Research / December 19, 2019. Social media has increasingly become the main outlet for all news and information – the global sugar market is no different, so why not connect with our community through Twitter and LinkedIn to stay up to date with news, articles and jobs? Cropping. According to the latest estimates from the Agriculture Ministry, white crystallized sugar consumption in the country stood at 2.8 million tons in 2019, while local production is projected to be around 2.2 million to 2.3 million tons. “Does this country want to make its people prosperous or make them suffer instead? A study by the University of Queensland, which looked at the impact of a sugar tax on Indonesia’s tax model, has gone much further. Indonesia, sugar tax And, The government is gathering information on food industry demand as well as consider raw sugar import quotas for this 2020. Average consumption stands at 39 litres per person annually, and has been growing at around 8-10% in recent years. Unabashed at setting out the motivation for the tax as health and revenue in equal parts, the Indonesian treasury believes the new taxes could raise revenue of up to INR6.25 trillion (US$450m). (JP/Nurhayati), India sugar shippers target ‘golden opportunity’ in Indonesia, Indonesian internet users hit 196 million, still concentrated in Java: APJII survey, Challenges of home learning during a pandemic through the eyes of a student, Indonesia's latest official COVID-19 figures, Indonesia to have world’s fourth-largest air passenger market by 2039: IATA. Notoriously sweet-toothed Indonesia, itself a major sugar producer, is also the world’s biggest raw sugar importer, with shipments this year expected to reach record levels. He also acknowledged that production would fall, which would affect growth in the beverage industry. They are open to buying supplies from India once the Indonesian government has adjusted the so-called Icumsa level, a standard set by the International Commission for Uniform Methods of Sugar Analysis, Dharmawan said. Related tags: Indonesia, sugar tax. Subscriber Update - Indonesia Enters Economic Recession in Q3-2020, Indonesia Investments Report - October 2020 Edition (2nd Half): the Great Islamic Bank Merger, Update COVID-19 in Indonesia:  433,836 confirmed infections,  14,540 deaths  (7 November 2020), Jakarta Composite Index (5,509.51)  +46.77  +0.86%, Central Bank BI 7-Day Reverse Repo October 2020 4.00%. You need to be signed in with our Sugar Pro or above to view this content. vOut = vOut.toLowerCase(); To find out more about how we use cookies please see our. The Food Resilience Agency (BKP) has proposed to import 130,000 tons of white crystallized sugar to offset a delayed milling period due to severe drought in 2019, agency head Agung Hendriadi said on Thursday. Soda: taxes & regulation, Free newsletter %��������� Indonesia is now the world’s second-largest importer of wheat and biggest consumer of palm oil, part of which is used in an ambitious biodiesel program. From mid-2009 until August 2011, %PDF-1.3 dataLayerNews = {}; Sugar is discharged from a ship at Sunda Kelapa Harbor in North Jakarta on Feb. 16. Indonesia Economic Outlook 2020 4 “We predict that dovish views from both 100the Fed and other central banks will continue in 2020. How [high] has inflation been?” Soemitro said. "��S��5�Qv� �p���r|�u��k7��������3˫�>��Yu[��x/+�v�٬�,�M3J&��fC��) ��yM���Y?>���7�(�C��w��6��w�¸UTx�}ӹ�� U\TE8m�qaz��ѐ�F��vCX�maN���p`�Ѱ"���v׭:���~w%6a*�(�Yc���|Hy��z���0=q���9ǰ�b@7̛�}��g|p�Z- �M��Wd�)���o��js���L�%�~�H�dtJTj߷�JA��2CE��.�E���� 1 ?ޅ�B~��1FS�@R�Bt�@s���+P8����7�hg��s��`��r|�u�c}���}��s�L��׻���ˆ���G.

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