Indonesia’s soybean meal consumption to grow by 2%
Indonesia’s soybean meal consumption is expected to grow by 2% to 5.75 million tons in MY 2024/25 due to continued demand from the feed sector.
According to USDA, the poultry industry is the largest consumer of soybean meal, accounting for at least 80% of animal feed consumption in Indonesia, and poultry production is expected to grow in parallel with population growth and increasing preference for poultry meat.
Feed demand in aquaculture is also expected to increase as the industry targets demand in the export market. Meanwhile, soybean meal imports are expected to reach 5.8 million tons in 2024/25, up 100,000 tons from 2023/24.
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