Analyzing maize consumption in Indonesia from 2013 to 2023, the consumption levels showed considerable fluctuations. In 2023, the consumption reached 20.39 million metric tons, which indicated a slight year-on-year increase of 1.96%. However, a review of the last five years reveals a Compound Annual Growth Rate (CAGR) of 3.18%, reflecting moderate growth overall. Interestingly, the preceding decade exhibited significant volatility with sharp drops in some years, such as 2015 and 2018, and notable rebounds in others like 2017 and 2019.
Looking ahead, the forecast from 2024 to 2028 suggests a stabilized consumption pattern with a forecasted average annual growth rate of 1.42% and an overall forecasted growth rate of 7.29%. This indicates cautious optimism towards a steady rise in maize consumption at the farm gate in Indonesia.
Key future trends to watch for:
- Climatic changes and their impacts on maize production.- Government policies and subsidies affecting maize cultivation.- Market demand shifts, particularly from the animal feed industry.- Adoption of advanced agricultural practices and technologies.
