JAKARTA - The Ministry of Industry (Kemenperin) said that the food and beverage industry (mamin) is a strategic sector that plays an important role in supporting Indonesia's economic growth.
Director General of Agro Industry of the Ministry of Industry Putu Juli Ardika said, in the first quarter of 2024 the food and beverage industry was able to record a value of 9.18 billion US dollars or equivalent to Rp150.3 trillion (assuming an exchange rate of Rp16,380).
"In terms of exports, in the first quarter of 2024 the food industry posted a value of 9.18 billion US dollars with an import value of 4.27 billion US dollars. Thus, the food industry sector is still continuing a positive trade balance in the first quarter of 2024 of 4.91 billion US dollars," Putu said at the Business Matching event. Seaweed Processing Industry with User Industry in Jakarta, Tuesday, June 25.
Putu said that the contribution of this sector in the first quarter of 2024 was 39.91 percent of GDP Non-Oil and Gas Industry and 6.97 percent of the national GDP.
He said the GDP for the food and beverage industry had increased to 5.87 percent in the first quarter of 2024 compared to the previous period of 5.33 percent.
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In addition, Putu said, the seaweed processing industry has a promising business prospect because it is supported by the availability of abundant raw materials and opportunities for the development of various derivative products with high added value.
Furthermore, he said, in the last 10 years Indonesia has still dominated the export market of dried seaweed for consumption and industrial raw materials. However, there is no visible growth in seaweed exports to downstream products that have added value.
"In 2023, Indonesia produces 10.7 million tons of wet seaweed. So far, the use of seaweed is mostly used for food and beverage products by 77 percent. As for pharmaceuticals, cosmetics and others, it is only 23 percent," said Putu.
"This industry needs to be more adaptive to market changes and developments," he added.
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