MYOR – Export market expansions

MYOR – Export market expansions Mayora Indah (MYOR) is expanding its export market and has sent its products such as coffee, chocolate and snacks, to 400k destinations in 15 countries; Palestine, Saudi Arabia, UA, Egypt, South Africa, Thailand, Malaysia, Bangladesh, Australia and others. Overall, MYOR has expanded its export market to more than 100 countries and the export sales is around 48% of its total revenue. Moreover, in line with the rules for labeling sugar content on food and beverage packaging without adjustment, MYOR predicts that production costs will increase 4-5 times. Some MYOR products, such as candy, will get a red label because the sugar content reaches 40%. MYOR thinks that the implementation of the rule without any adjustment will mislead consumers, because food and beverage products labeled red will be considered dangerous and unhealthy. MYOR predicts that the food and beverage industry will need time to reformulate recipes for each of its products and the public will need time to receive socialization and education related to the rules. (Source : Investor Daily)