Indonesia's wheat imports to recover in 2023-24

Indonesia's wheat imports are expected to recover in 2023-24, subject to an improving global economy, population growth and increased demand due to the upcoming general elections, the USDA's Foreign Agricultural Service (FAS) said in a report. Indonesia's wheat imports during the period are estimated at 10.5 million tonnes, up from 9.446 million tonnes in 2022-23. A slowing global economy and lower domestic purchasing power have led to lower demand for wheat products in 2022-23, FAS said. Indonesia's total food consumption will fall by 3.4% to 8.5 million tonnes in wheat equivalent in 2022-23. Due to the 2024 elections, the demand for wheat flour-based food products is expected to increase. Wheat consumption in 2023-24 estimated at 8.6 million tons of wheat equivalent. Wheat is also largely consumed in Indonesia as a feed ingredient. The Feed Mills Association forecasts feed production in 2024 will increase 5% to 22.4 million tons from 21.3 million tons produced in 2023. As ...