Tridge summary
For the year 2023/24, Indonesia is projected to experience a rise in soybean meal consumption, reaching 5.8 million tons, as per the USDA. This increase is primarily driven by the feed sector, with the poultry industry being its largest consumer, accounting for 80% of feed production. Additionally, the aquaculture sector's feed demand is anticipated to rise alongside an expected uptick in fish exports, leading to a heightened demand for soybean meal. To satisfy this demand, imports of soybean meal, predominantly from South America, are expected to match the consumption level at 5.8 million tons.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Growing demand from the feed sector in Indonesia will lead to an increase in the consumption of soybean meal in 2023/24 MY. The indicators in the country should reach 5.8 million tons, which, according to forecasts, is slightly higher than the level of 2022/23 MY. The United States Department of Agriculture (USDA) said the poultry sector, which uses at least 80% of the farm animal feed it produces, is the largest consumer of soybean meal in Indonesia. Feed demand in the aquaculture ...
Source: Oilworld
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