JAKARTA, Jan. 9 (Xinhua) -- A food and beverage association (GAPMMI) has estimated Indonesia's food and beverage industry to expand 8.2 to 8.5 percent this year, GAPMMI Chairman Adhi Lukman said on Monday.
The association chairman was upbeat about the target as rising global prices of agricultural commodities would positively affect the country's food and beverage industry.
"I am optimistic. Because the condition is favorable," he said.
Indonesia is the world's largest producer and exporter of palm oil and among the top three of the world's biggest producer and exporter of cocoa, along with Cote d'Ivoire and Ghana.
Still, the chairman reminded shareholders in the industry of tougher competition from global players this year.
Therefore, he urged Indonesian firms to prepare strategies to face such condition.
"There should be new investment, new factories and others amid the tougher competition at the global trade," Lukman added.