Indonesia: Grain and Feed Update

Driven mainly by higher demand from feed mills, higher consumption of flour-based food during the consecutive religious festivities and general election, as well as demand for alternative staples cheaper than rice and trending flour-based foods, Indonesian wheat imports in 2023/24 are estimated to break record levels at 12.6 million metric tons (MMT). Meanwhile, 2023/24 corn consumption for feed is revised down 8.5 percent to 8.6 MMT. Assuming recovering local corn production and lower corn prices, 2024/25 wheat imports are forecast to slow to 12.0 MMT while corn for feed consumption will increase to 9.0 MMT.