Indonesia's food, beverage industry growth expected to rebound this year

Source: Xinhua| 2019-06-13 19:52:09|Editor: xuxin
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JAKARTA, June 13 (Xinhua) -- Food and beverage industry in Indonesia is forecast to log a higher growth this year after registering a contraction last year, an official said here on Thursday.

The industry growth was looked to ratchet up 10 percent by the end of this year, compared with 7.91 percent expansion last year, Industry Ministry's Director of beverages, tobacco and refreshments Abdul Rochim said.

In 2017, the food and beverage industry posted a 9.23 percent growth, according to the ministry. "It may grow 9 or 10 percent this year," Rochim said.

Export of food and beverage products was projected to reach 8 billion U.S. dollars this year, albeit flagging global economic growth may edge off demand, Chairman of Indonesia's Food and Beverage Association Adhi Lukman said.

The association urged shareholders of the food and beverage industry in Indonesia to take a strategy to excel global competitors in the face of fierce competition.

Industry Minister Airlangga Hartarto said that investment in the food and beverage industry contributed significantly to investment in manufacturing, citing that last year it reached 56.60 trillion rupiahs (about 3.95 billion U.S. dollars).