Indonesia may increase use of corn for feed production in MY 2024/25
Corn consumption for feed purposes in Indonesia will decrease to 8.6 million tons in the 2023/24 season, but may increase to 9 million tons in MY 2024/25. This is the forecast in the USDA Grain and Feed Update report.
“The shortfall in local corn production, which led to a sharp price increase in MY 2022/23, has forced feed mills to reduce the use of corn in feed formulation to 38-40%. However, assuming Indonesian grain production increases next season, feed mills estimate that this figure could rise to 48%,” the report said.
It also notes that competitive prices for imported wheat have allowed Indonesian feed mills to incorporate more wheat into feed formulations. This, in turn, has led to an increase in corn stocks. Indonesia’s Ministry of Agriculture estimates that by June 2024, corn stocks at feed mill elevators were 17.4% higher than the same period a year earlier.
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