Its (the condiment sub-sector's) export value is potentially able to be increased since Indonesia has wealthy raw materials for spices and diverse seasonings
Karawang, W Java (ANTARA) - The Industry Ministry is optimistic that the food and beverage industry will continue to grow by five to seven percent in 2023 despite the risk of a global recession.

"We are optimistic that the food and beverage industry will grow by more than 5 percent since we have seen that the growth in some sub-sectors (of the industry) has reached double digits," director of food, seafood products, and fisheries industry at the ministry Emil Satria said here on Monday.

One of the examples has been the canned fish industry, which has grown by about 10 percent, he pointed out.

Secretary general of the ministry Dody Widodo said that Indonesia has been considered successful in mitigating COVID-19 transmission, hence, the country’s economy, including the industrial sector, has started to revive.

"It is shown by the performance of the non-oil and gas processing industry, which is gradually recovering and recorded a growth of 4.88 percent in the third quarter of 2022," he added.

In addition, Indonesia's purchasing manager’s index (PMI) reached 51.8 in October 2022, indicating the sector is expanding, he said.

Furthermore, the export value of the food and beverage industry, including palm oil, reached US$35.99 billion in the period from January to September 2022.

The figure was significantly higher than for food and beverage imports during the same period, whose value was pegged at US$12.76 billion.

In addition, the food and beverage industry attracted a total investment of Rp41.37 trillion until the second quarter of 2022 and absorbed about 5.5 million workers.

The condiment sub-sector, which includes soy sauce, chili sauce, tomato sauce, and seasoning production, was one of the sub-sectors that recorded a positive trade balance.

In January–September 2022, Indonesia's exports of condiment products reached US$175.8 million, while the import value of the products was US$90.5 million.

Indonesia's main export condiment products were seasoning and soy sauce.

Currently, Indonesia is ranked as the 15th-largest condiment product exporter in the world.

"Its (the condiment sub-sector's) export value is potentially able to be increased since Indonesia has wealthy raw materials for spices and diverse seasonings," the ministry’s secretary said.

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Translator: Sella Gareta, Uyu Liman
Editor: Azis Kurmala
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