Indonesia’s 2024 wheat imports seen rising by 5%, industry official says
Indonesia is the world’s third-largest wheat importer, buying largely from Australia, Canada, U.S. and the Black Sea region.
Welirang said the country’s flour consumption this year is expected to rise by 5% from 2023.
Meanwhile, Indonesian grain buyers are boosting imports of lower quality wheat, as a decline in corn output last year following a severe drought linked to an El Nino weather pattern tightened the country’s animal feed supplies.
Ships carrying grains and other commodities are being diverted from the Suez Canal to sailings around the Cape of Good Hope on concerns about attacks on vessels in the Red Sea.
“There is high risk in transporting through Red Sea,” he said. “It will have to go down south, so it will take longer time, and higher freight.”
Source Link: https://www.nasdaq.com/articles/indonesias-2024-wheat-imports-seen-rising-by-5-industry-official-says
