From 2014 to 2023, wheat demand in Indonesia showed steady growth overall. Starting at 7.44 million metric tons in 2014, demand rose to 10.96 million metric tons in 2023. Significant increases occurred in 2015 and 2016, while declines were noted in 2017 and 2018. Year-on-year variations ranged from -3.17% in 2020 to 25.53% in 2016. The compound annual growth rate (CAGR) averaged 2.11% over the past five years.
Between 2024 and 2028, demand is forecasted to grow moderately at a 1.33% CAGR, reaching 11.92 million metric tons by 2028. Observing long-term trends, the wheat demand demonstrates a general upward trajectory.
Future trends to watch for include:
- Changing dietary patterns and increased consumption of wheat-based products.
- Economic conditions that influence purchasing power and food consumption.
- Government policies and subsidies impacting agricultural imports and production.