Indonesia to surge wheat imports in 2024 amid rising flour, feed demand and drought impact

Published Mar 6, 2024

Tridge summary

Indonesia is set to significantly ramp up its wheat imports in 2024 due to an increase in demand for flour and animal feed. The country's flour consumption is projected to rise by 5% from 2023, while a drop in corn production has triggered a boost in animal feed imports. The majority of these imports will be sourced from Australia, Canada, the U.S., and the Black Sea region. Despite potential logistical hurdles and possible effects on global wheat prices, this strategy is viewed as a crucial step towards ensuring food security and economic stability in Indonesia.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Indonesia is poised to increase its wheat imports significantly in 2024, eclipsing the 10.87 million metric tons brought in last year, as a response to heightened demand for flour and animal feed. Franciscus Welirang, Chairman of the Indonesian Flour Producers Association, highlighted the anticipated growth in consumption during an industry conference in Jakarta. With Indonesia ranking as the world’s third-largest wheat importer, the country’s reliance on wheat from Australia, Canada, the U.S., and the Black Sea region is more critical than ever. Several factors are contributing to Indonesia’s growing wheat demand. Firstly, Franciscus Welirang forecasts a 5% increase in the country’s flour consumption compared to 2023. This rise is attributed to a growing appetite among Indonesians for wheat-based products. Additionally, a significant downturn in corn production last year, exacerbated by a severe drought linked to an El Nino weather pattern, has tightened animal feed supplies. ...

Source: UkrAgroConsult