South-East Asia’s wheat demand is on the rise
Staff writer ▼ | June 24, 2016
South-East Asian (SEA) demand for wheat in Indonesia, Malaysia, Thailand, Vietnam and the Philippines has grown at close to 6.2% annually over the past ten years, Rabobank said.Article continues below
Thas was driven by higher animal protein and processed flour demand for noodles and bakery products. This growth has culminated in SEA becoming the second-largest wheat import region, after the Middle East and North Africa.
Rabobank expects SEA to show consumption growth of 4.5% per annum over the next five years, with consumption growing, from 18.5m tonnes in 2014/15 to 24.4m tonnes by 2020/21.
“In order to service the growing South-East Asian market, Rabobank expects to see a shift towards wheat originating in the Black Sea Region,” says Graydon Chong, Senior Grains & Oilseeds Analyst at Rabobank.
“Due to favourable cost-competitiveness factors such as production and sea freight costs, the additional growth in wheat demand throughout SEA—particularly demand for feed wheat—is expected to be increasingly met by imports from the Black Sea Region.
“To successfully meet the growing demand, companies will need to navigate the significant supply chain and regulatory diversity across SEA.” ■ What to read next
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