Increased Production Pulls Indonesian Corn Prices Down

The wholesale price of Indonesian corn fell by -35.76 % YoY to 0.47 USD/KG in W3 November 2021. As the top producer of corn, most of its production is used for domestic animal feed. The country has even started to import corn to make up for the high demand. However, increasing corn harvested area until the end of 2021 will boost production up which may reduce imports and make prices fall further.