UPDATE 1-Indonesia Indofood says wheat imports to rise 5 pct

Wed May 13, 2009 1:56am EDT
 
[-] Text [+]

JAKARTA, May 13 (Reuters) - Indonesia's PT Indofood Sukses Makmur Tbk (INDF.JK), the world's largest instant noodle maker, said on Wednesday it expects its flour millers' wheat imports to rise 5 percent this year on growing demand for flour-based food.

Indofood controls two of the world's largest flour millers through its unit Bogasari Flour Mills. These imported between 2.8 and 3 million tonnes of wheat last year, said Franciscus Wellirang, company director.

"Demand for Bogasari's flour is expected to increase by 5 percent this year. So wheat imports by the unit will rise correspondingly by around 5 percent," Wellirang told reporters.

Bogasari sold about 2 million tonnes of wheat flour in 2008, Wellirang said.

He did not say why demand is increasing. However, Southeast Asia biggest economy held legislative elections in April and is due to hold presidential elections in July, and political parties typically spend heavily on food for supporters, including instant noodles.

Indonesia depends entirely on imports for wheat, which it buys from Canada, the United States, Australia, countries in Eastern Europe, Argentina and China.

It has projected wheat imports will rise 5 percent this year to 4.5 million tonnes to meet growing demand during an election year. [nJAK421005]

(Reporting by Andreas Ismar, Writing by Fitri Wulandari, editing by Sara Webb)

((fitri.wulandari@reuters.com; Reuters Messaging: fitri.wulandari.reuters.com@reuters.net; +62 21 384 6364 ext 904))

((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: INDOFOOD INDONESIA/

(C) Reuters 2009. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nJAK289165

 

Featured Broker sponsored link