YAKARTA – Indonesian manufacturers of herbal remedies have challenged the declining economy and are optimistic about customer expansion, as citizens turn to them through the coronavirus.
The country’s largest jamu manufacturer, or classic herbs, Industri Jamu dan Farmasi Sido Muncul, on Thursday announced an 11% increase in the net source of revenue during the year to 414 billion rupees ($28.1 million) for the January-June era. the highest figure in the first part since the corporation indexed in 2013. Sales also increased by 4% to 1.46 trillion rupees, while its food and beverage segment, which includes herbal beverages, recorded the most powerful expansion with 16%.
“Our most productive distributors of the quarterArray moment … come with ginger-based products like ginger coffee and ginger milk, as well as vitamin C. The demand was very high,” said Leonard, the leading monetary director of the corporation better known as Sido Muncul. told reporters on Thursday.
These products, along with other popular herbal remedies produced through Sido, sold well despite the reduction in advertising spending, he said. Medicinal plants generate more than 60% of Sido’s income.
“Social media helps,” Leonard said. “Many other people read data through WhatsApp teams and in the news about the importance of herbs to eat. Even without advertising, our products sold out.”
On Thursday, Indonesia reported a total of 162,884 cases of coronavirus, 7,064 deaths.
Many Indonesians believe that a mixture of ginger, turmeric and some other rhizomes can keep their immune formula strong. Long-fed by locals as classic cold remedies, joint pain and some other benign diseases, they were promoted this year as a way to protect against coronavirus infections.
Items such as ginger and turmeric were temporarily sold on the market in March after some senior government officials, adding President Joko Widodo, promoted herbal remedies at the start of the epidemic. Filled with complaints and accusations of misleading the public, officials have stopped selling concoctions, but remain popular.
The percentage value of Sido has increased by 10% since the beginning of the year to 1,405 rupees, surpassing the country’s largest pharmaceutical manufacturer, Kalbe Farma, whose value had fallen before returning on Thursday to its point before January 1615 rupees. Jakarta’s composite index fell by 14% over the same period.
As in Sido, Kalbe’s revenue increased by 4% in the first half to Rs 11.6 trillion, while the net source of income increased by 10% to Rs 1.4 trillion. Sales of prescription drugs fell by 4%, which the corporate attributed to the decrease in the number of patients visiting hospitals due to the pandemic. But sales of its “health products” department, which includes multivitamins and medicinal plants, rose 7%.
Seeing the popularity of herbal remedies, the company is conducting clinical trials for two new herbal offerings involving COVID-19 patients with mild symptoms in Jakarta, said Bernadus Karmin Winata, Kalbe’s director. This is in addition to a collaboration with South Korean biotechnology company Genexine for the progression of a coronavirus vaccine, which is expected to enter phase 2 clinical trials in Indonesia in the fourth quarter.
“Herbals is an attractive area,” Winata said. “In Indonesia, we are used to classic Array herbal products … to maintain our health. Through clinical trials, we expect [profiles] of herbal remedies. Having clinical knowledge will make us more convinced that they are. Favorable for health.”
Additional reports through Ismi Damayanti.
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