The Ministry of Industry (Kemenperin) notes that the food and beverage industry play an important role in supporting Indonesia’s economic growth. According to the Director General of Agro Industry at the Ministry of Industry, Putu Juli Ardika, in the first quarter of 2024, exports in this sector will reach US$ 9.18 billion or IDR 149.63 trillion (exchange rate IDR 16,300).
“Apart from that, from the export side, in the first quarter of 2024 the food industry recorded a value of US$ 9.18 billion, with an import value of US$ 4.27 billion. Thus, the food industry sector still continued its positive trade balance in the first quarter in 2024 amounting to US$ 4.91 billion,” he said at the Seaweed Industry Business Matching event, Tuesday (25/6/2024).
The contribution of this sector in the first quarter of 2024 is 39.91% of Non-Oil and Gas Industry GDP, and 6.97% of national GDP. Food and beverage industry GDP increased to 5.87% in the first quarter of 2024 compared to the previous period of 5.33%.
According to Putu, the seaweed processing sector has promising business prospects. This is because Indonesia has abundant availability of raw materials for the development of seaweed derivative products.
“The seaweed processing industry has promising business prospects because it is supported by the abundant availability of raw materials and opportunities for the development of various derivative products with high added value. As the 2nd largest seaweed cultivation producing country in the world, Indonesia is a suitable place for the development of seaweed. “starting from the cultivation process to the downstream process,” he explained.
In the last 10 years, Indonesia still dominates exports of dried seaweed, both for consumption and industrial raw materials. However, significant growth has not been seen in exports of downstream products that have more added value.
66.61% of Indonesia’s seaweed export products are dominated by dried seaweed, while processed seaweed (carrageenan and gelatin) still accounts for 33.39%. In 2023, Indonesia will produce 10.7 million tons of wet seaweed.
“So far, the majority of processed seaweed is used for food and beverage products at 77%, while for pharmaceuticals, cosmetics and others it is only 23%. This industry needs to be more adaptive to changes and market developments,” he said.
Putu added that his party continues to synergize with Ministries/Institutions to increase competitiveness and optimize the downstreaming of the seaweed industry. Some of these derivative products include biostimulants, bioplastics, animal feed additives, nutraceuticals, alternative proteins, pharmaceuticals and textiles.
“The Global Seaweed New and Emerging Market Report 2023 has identified a new market share that will develop in 2030 for downstream seaweed products with a market potential of US$ 11.8 billion, namely biostimulant products, bioplastics, animal feed additives, nutraceuticals, protein alternatives, pharmaceuticals and textiles,” concluded Putu.
June 25, 2024, detikFinance
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