Soyabean consumption in Indonesia is expected to increase by 3% in 2024/25 due to higher demand from the food sector, according to a report by the United States Department of Agriculture (USDA) reported by World Grain.
The USDA’s Foreign Agricultural Service (FAS) report estimated Indonesian soyabean consumption in 2024/25 at 2.86M tonnes, the 26 March report said.
Using about 90% of supplies, the tempeh and tofu industries are the main consumers for imported soyabeans, according to the report.
Imports were estimated at 2.55M tonnes, an increase of 50,000 tonnes from 2023/24, with the USA expected to remain as the leading supplier, followed by Canada.
Indonesia was expected to produce 360,000 tonnes of soyabeans from a reduced planted area.
Soyabean meal use was expected to increase by 2% to 5.75M tonnes due to continued demand from the feed sector.
Poultry feed is the largest consumer of the meal, accounting for at least 80% of animal feed consumption in 2023, according to the report.
Soyabean meal imports were estimated at 5.8M tonnes, an increase of 100,000 tonnes from last year.
Indonesian palm oil production was expected to increase by 3% to 47M tonnes in 2024/25 due to expected recovery from last year’s El Niño effects on the region of Southern Sumatra.
Meanwhile, palm oil consumption was forecast to increase slightly to 19.8M tonnes due to ongoing growth in industrial and food sector use.
In the industrial sector, the palm-based biodiesel industry has grown rapidly following the Indonesian government’s introduction of its mandatory biodiesel programme, according to the report.
Palm oil use in the industrial sector was expected to continue to grow due to higher blending rates, increased diesel consumption and export demand.
Indonesian palm oil exports for 2024/25 were projected at 28M tonnes, a slight increase from the previous year due to ongoing demand from major markets.
On the expectation that there would be no significant increase in use for the mandatory biodiesel programme, exportable palm oil was likely to match production growth, the report said.
