The wheat market in Indonesia experienced steady growth from 2014 to 2023, with an increase from 7.42 million metric tons in 2014 to 10.91 million metric tons in 2023. Notable changes include a significant rise of 11.09% in 2015 and 22.52% in 2016, followed by some fluctuation, with declines in 2017 and 2018. The market stabilized with moderate growth post-2019, with the 2023 year-on-year increase at 1.72% and a 5-year CAGR of 2.08% from 2019 to 2023.
Looking forward, the forecasted CAGR for the next five years (2024-2028) is 1.34%, with an anticipated overall growth rate of 6.86% by 2028, reaching 11.88 million metric tons. Factors to watch include global commodity prices, domestic agricultural policies, and climate impacts on production and supply chains.
