Jakarta, Sept. 24 -- Indonesia's National Food Agency (Bapanas) has absorbed over 60,000 tons of farmers' sugar using Rp1.5 trillion (about $97 million) in funding from the sovereign wealth fund Danantara, as part of efforts to stabilize prices.

"There are about 21,000 tons remaining from the total target of 81,000 tons. The sugar is absorbed and later distributed-so it flows in and out," Bapanas Head Arief Prasetyo Adi said on Wednesday.

He noted that sugar stocks purchased by state-owned enterprises (SOEs) are typically distributed within two to three months.

The funding aims to prevent falling sugar prices at the farmer level. Bapanas also urged private companies to help absorb excess supply to support price stability.

The sugar is...