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Indonesia Food and Drink Report Q1 2009
Business Monitor International, Jan 2009, Pages: 64
Indonesia Food Drink Report provides independent forecasts and competitive intelligence on Indonesia's food and drink industry.
'Despite an unpredictable global economic environment, Indonesia’s Food, Drink and Retail sectors have performed positively this quarter as can be seen in BMI’s newly published Indonesia Food and Drink Report Q109. BMI is forecasting per capita food consumption to rise by 57.8% to US$393.9 in 2013 and investors looking to Indonesia will see a market comfortable with economic recovery and steadily adopting consumerism.
Indofood Sukses Makmur and Unilever Indonesia have announced strong year-to-date (YTD) financial results, with net profit doubling in the case of Indofood to US$334.5mn and increasing 30% for Unilever Indonesia to US$190.7mn. Meanwhile, Indonesian retailer Matahari Putra Prima also announced a doubling of net earnings and sales figures of close to US$1bn for the first nine months of 2008. These results would indicate that consumer confidence has yet to wane significantly, with the government stating that price pressures have peaked and no further interest rate hikes likely for 2008 the outlook remains positive in the short-term.
Turning to Mass Grocery Retail, South Korean retailer, Lotte Shopping, a subsidiary of conglomerate Lotte Group announced its plan to acquire a 75% stake in the Indonesian subsidiary of Dutch wholesaler SHV Makro for US$212.6mn, with the remaining 25% being held by Singaporean affiliate Lotte Shopping Holdings Pte. Indonesian retailer, Matahari also announced plans to expand and with the government currently considering legislation which would require pre-notification of all planned mergers and acquisitions activity it is likely that more of the regions retailers will feel the need to expand more urgently.
An area that has been affected negatively by the global economic situation is that of Indonesia’s coffee bean industry. In the last quarter the price of coffee beans has dropped significantly and exporters are delaying shipments out of Indonesia with the threat of cancelling these shipments altogether. While producers of primary agricultural commodities might have been affected by economic volatility, the outlook for secondary manufacturers is altogether more encouraging.
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