First Semester Revenue Of 2022 Reaches IDR 6.2 Trillion, ID FOOD Performs Several Further Transformation Steps

JAKARTA - ID FOOD plans to carry out a second wave transformation or further transformation steps after this BUMN food holding is formed in early 2022.

This was stated by the President Director of ID FOOD, Frans Marganda Tambunan on the occasion of a healthy walk with hundreds of Food SOEs.

"We have prepared further transformation steps as an effort to advance food covering several sectors," explained Frans, quoted from an official statement on Sunday.

He also detailed that in order to support sugar self-sufficiency, ID FOOD plans smart farming of 12 hectares of sugarcane land in West Java through the application of sugarcane cultivation with full mechanization and remote sensing technology so that it is expected to increase planting accuracy and good sugarcane production.

Rice commodity, continued Frans, will also develop land in Sukamandi Subang by creating integrated farming. This land will later be integrated with Pajale processing, processing waste into fertilizer and pallets as well as a center for developing superior seeds.

The next step of transformation, in the livestock sector, will be the development of an end-to-end and integrated poultry business ecosystem such as DOC Chicken. The development of cattle fattening and breeding is also carried out and integrated with the community farmer network.

According to him, the fishery sector will also revitalize cold storage to increase the capacity of the Fish Processing Unit (UPI). Likewise, for salt commodities, salt mine modernization is carried out to support the increase in salt fields through the harvest mechanization process.

"These business development transformation steps are targeted to start in 2022 until 2024, besides that, there will also be downsizing of several subsidiaries or divestments," he said.

Achieving consolidated financial performance up to Semester I 2022, ID FOOD earned revenues of Rp. 6.2 trillion, 93 percent of the 2022 budget of 6.6 trillion. Thus, the revenue performance until Semester I 2022 reached 16 percent YoY.

"The revenue contribution was supported by the three largest major sectors, including sugar, amounting to Rp. 1 trillion, followed by the retail trade sector with a contribution of Rp. 3 trillion, and the livestock sector at around Rp. 1.3 trillion," explained Frans.