Indonesia to reduce corn, salt, sugar imports in 2025

By Vietnam News Agency
Wed, December 11, 2024 | 11:02 pm GMT+7

Indonesia will slash corn, salt, sugar import quotas for 2025 as part of its efforts to make domestic industries use more domestic products.

 Indonesian Coordinating Food Minister Zulkifli Hasan (central). Photo courtesy of indonesiasentinel.com.

Indonesian Coordinating Food Minister Zulkifli Hasan (central). Photo courtesy of indonesiasentinel.com.

Indonesian Coordinating Food Minister Zulkifli Hasan on Tuesday said that the import quotas for 2025 for these three commodities will be significantly lower than the projected demand of local industries.

In 2024, the country's estimated industrial corn demand is about 1.6-1.7 million tons, but the import quota for corn next year is only 900,000 tons. This forces Indonesia to improve the quality of corn production to serve domestic industries.

According to the minister, Indonesia will continue to import industrial salt for the next two years, but with reduced quotas.

The import quota for industrial salt for the chlor-alkali industry will be 1.7 million tons in 2025, which is 68% of the projected demand of 2.5 million tons. Indonesia aims to produce enough industrial salt domestically to meet demand in two years.

For industrial sugar, the Indonesian government has set an import quota of 3.45 million tons, lower than the average import level of 5-6 million tons per year in previous years.

The Ministry of Industry said that in 2024, the industrial demand for imported raw sugar is expected to reach 4.77 million tons, of which 3.46 million tons will be processed into refined sugar domestically.

Data from the Statistics Indonesia (BPS) for this year show that the country has had to import a large quantity of staple food items, including rice, sugar, soybean, and corn.

Specifically, the rice import amounts to 3.23 million tons, followed by sugar at 3.66 million tons, soybean at 2.16 million tons, and corn at 970,000 tons.

Compared to the import volumes in the first nine months of 2023, rice import surged by 80.68%, soybean by 15.64%, and corn by 44.97%, indicating that the country continues to rely on the import of these items to meet domestic demand.

Comments (0)
  • Read More
Vietnam a promising market for supply chain diversification, risk mitigation: German association AHK

Vietnam a promising market for supply chain diversification, risk mitigation: German association AHK

German businesses see significant growth potential in Vietnam's promising market, especially when the country’s focus on renewable energy and sustainability aligns with Germany’s strengths in green technologies.

Economy - Wed, December 11, 2024 | 5:57 pm GMT+7

Philippines expected to import record rice volume

Philippines expected to import record rice volume

Despite record production and ample stocks, the Philippines is expected to import a record volume of rice in the 2024-2025 crop year, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.

Southeast Asia - Wed, December 11, 2024 | 4:23 pm GMT+7

Vietnam's auto sales up 17% to 308,544 in Jan-Nov

Vietnam's auto sales up 17% to 308,544 in Jan-Nov

Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 308,544 units in the first 11 months of 2024, up 17% year-on-year.

Companies - Wed, December 11, 2024 | 3:46 pm GMT+7

Indonesia's economic growth projected below 5.2%

Indonesia's economic growth projected below 5.2%

Indonesia’s Finance Minister Sri Mulyani Indrawati has forecast a growth rate of 5.01% for the country’s economy in the fourth quarter of 2024.

Southeast Asia - Wed, December 11, 2024 | 3:37 pm GMT+7

Bamboo Capital, Foxlink, Micro Electricity partner to establish comprehensive renewable energy ecosystem in ASEAN

Bamboo Capital, Foxlink, Micro Electricity partner to establish comprehensive renewable energy ecosystem in ASEAN

Vietnam's Bamboo Capital Group and Taiwanese firms Foxlink and Micro Electricity on Monday signed a strategic cooperation agreement to advance renewable energy technologies and solutions.

Bamboo Capital - Wed, December 11, 2024 | 3:35 pm GMT+7

Vietnamese lender OceanBank's name changed, leadership reshuffled

Vietnamese lender OceanBank's name changed, leadership reshuffled

OceanBank will have its name changed to Modern Vietnam Commercial Joint Stock Bank (MBV) from December 18, aiming to become "a sustainable, safe and modern bank".

Banking - Wed, December 11, 2024 | 2:43 pm GMT+7

Private equity to enhance Vietnam stock market quality: VinaCapital exec

Private equity to enhance Vietnam stock market quality: VinaCapital exec

Private equity plays a crucial role in boosting the quality of Vietnam's stock market, especially after its anticipated status upgrade, says Nguyen Thi Dieu Phuong, deputy CEO of fund manager VinaCapital.

Economy - Wed, December 11, 2024 | 12:10 pm GMT+7

Japan valve producer Kitz launches $25 mln factory in Vietnam

Japan valve producer Kitz launches $25 mln factory in Vietnam

Japan’s valve producer Kitz on Tuesday inaugurated a $25 million factory in the northern province of Vinh Phuc, its first plant in Vietnam.

Industries - Wed, December 11, 2024 | 11:39 am GMT+7

Propery sales in HCMC double in Nov on slight supply hike

Propery sales in HCMC double in Nov on slight supply hike

Primary property sales in Ho Chi Minh City, Vietnam’s southern metropolis, reached 2,022 units in November, double that of the same month last year, according to a report by DKRA Consulting.

Real Estate - Wed, December 11, 2024 | 11:28 am GMT+7

ADB raises Vietnam GDP growth prediction to 6.4% in 2024, 6.6% in 2025

ADB raises Vietnam GDP growth prediction to 6.4% in 2024, 6.6% in 2025

The Asian Development Bank (ADB) has revised up Vietnam’s GDP growth to 6.4% in 2024 and 6.6% in 2025, according to the December edition of its Asian Development Outlook (ADO).

Economy - Wed, December 11, 2024 | 9:37 am GMT+7

Vietnam increasingly important to US semiconductor industry: exec

Vietnam increasingly important to US semiconductor industry: exec

Vietnam is becoming increasingly important to the U.S. semiconductor industry and plays a crucial role in the strategy of the U.S. Semiconductor Industry Association's (SIA) member companies, says the association’s chairman John Neuffer.

Economy - Wed, December 11, 2024 | 8:51 am GMT+7

Vietnam an extremely attractive investment destination: KKR

Vietnam an extremely attractive investment destination: KKR

David Petraeus, a partner at leading global investment firm KKR, says political stability, rapidly improving infrastructure, and friendly relations with other countries make Vietnam an extremely attractive investment destination.

Economy - Wed, December 11, 2024 | 8:20 am GMT+7

Thai soup 'Tom yum kung' becomes new UNESCO intangible cultural heritage

Thai soup 'Tom yum kung' becomes new UNESCO intangible cultural heritage

"Tom yum kung", the iconic spicy and sour Thai prawn soup, has officially been inscribed on the UNESCO representative list of the Intangible Cultural Heritage of Humanity.

Southeast Asia - Tue, December 10, 2024 | 6:48 pm GMT+7

Thailand steps up crackdown on cheap imports

Thailand steps up crackdown on cheap imports

Thailand has recorded a decrease of 20% in low-quality imports, mainly from China, since restrictions on cheap imports that hurt business in Southeast Asia's second-largest economy were imposed, government spokesperson Sasikarn Wattanachan said on Monday.

Southeast Asia - Tue, December 10, 2024 | 6:46 pm GMT+7

Indonesia’s national rice stock at 8 mln tons by year-end

Indonesia’s national rice stock at 8 mln tons by year-end

Indonesia's Coordinating Minister for Food Zulkifli Hasan said on Monday that the national rice stock has reached eight million tons by the end of 2024, so there will be no need for additional imports, including for next year.

Southeast Asia - Tue, December 10, 2024 | 6:43 pm GMT+7

Indonesia boosts trade cooperation with EU

Indonesia boosts trade cooperation with EU

Indonesia's Ministry of Investment and Downstreaming plans to establish an European Union (EU) desk to enhance trade cooperation with the bloc, said Minister Rosan Roeslani, who is also head of the Investment Coordinating Board (BKPM).

Southeast Asia - Tue, December 10, 2024 | 6:38 pm GMT+7