JAKARTA (TheInsiderStories) – The national food and beverage industry is projected to record 8-9 per cent growth this year, partly driven by regional elections to elect governors and regency heads held across the country. Judging from regional elections held in the past, the elections help boost people’s consumption.

“We are projecting the food and beverage industry to grow moderately by 8-9 per cent this year,” said Director General for Agro Industry at the Industry Ministry Panggah Susanto said.

In the nine months to September, 2017, the food and beverage industry grew by around 8.24 per cent, said Panggah Susanto. He added the food and beverage industry contributed 34.95 per cent to the national gross domestic product (GDP) in the first nine months 2017, the highest compared to other industries.

The food and beverage industry exports reached US$31.8 billion in full year 2017, including palm oil exports which reached US$9.88 billion, he added.

Meanwhile domestic direct investment in food and beverage sector reached Rp27.9 trillion in the nine months to September, while foreign direct investments reached US$1.4 billion, said Panggah Susanto. The Head of Federation of Food and Beverage Producers (GAPMMI) Adhi Lukman, however, looks to be more optimistic. He projected the food and beverage industry to grow by 10 per cent this year, higher than expected 8 per cent last year.

 

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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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