Soybean meal consumption in Indonesia will increase by 2%

Indonesia's soybean meal consumption is projected to increase by 2% to 5.75 million tonnes in MY 2024/25, primarily driven by the feed sector, with the poultry industry being the largest consumer, accounting for 80% of animal feed consumption. Poultry production is anticipated to align with population growth and the rising preference for poultry meat. Additionally, demand for aquaculture feed is expected to surge due to the industry's ambitions to satisfy export market demands. Consequently, soybean meal imports are forecasted to rise to 5.8 million tonnes in 2024/25, a slight increase from the previous year.