GENEVA: Indonesia could overtake Egypt as the world's top wheat importer within five years, an executive at Australia's largest grain co-operative CBH Group said on Friday.
"Indonesia could overtake Egypt due to its large population, strong GDP growth and changing diets," said Jason Craig, general manager of marketing and trading, speaking on the sidelines of the Grain and Feed Trade Association (Gafta) conference in Geneva.
Indonesia, the most populous South-East Asian country, consumes around 19 kg of flour per head per year, but Craig said this could rise to around 30 kg within the next 7 to 10 years.
"Flour consumption trends are being driven by convenience food," Craig said. "Asian governments are focusing on employing their own people so their preference is to continue to import raw materials and manufacture."
The US Department of Agriculture (USDA) pegs Egypt's 2013/14 imports at 9 million tonnes, while Indonesia's are forecast at 7 million tonnes.
Australian, North American and Black Sea wheat is likely to meet the growing demand, Craig said.
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