THERE were no transactions made during the auction in the joint marketing office of state plantation company PT Perkebunan Nusantara, at Jalan Cut Meutia, Jakarta, on Thursday last week. This was due to sugar refineries—PT Perkebunan Nusantara IX, X, XI, and Rajawali Nusantara Indonesia—not being prepared to release their products because offers were below the benchmark price.

The majority of participants at the tender put in offers with pri