Increasing palm oil production, growth in country’s horticulture sector, rising initiatives of the government to surge rice production and allocation of free seeds to farmers are expected to drive Indonesia Seed Market in the future.
The agriculture sector of Indonesia has witnessed an increased demand for wide varieties of seeds overtime. Having vast and abundant fertile soil has made Indonesia being considered amongst the major agricultural countries in the world. As per the Ministry of Agriculture (MoA), Indonesia grows 77 types of carbohydrate-rich produce, 26 types of beans, 389 types of fruits, 228 types of vegetables and 110 types of spices. An increased focus of introducing hybrid seeds by the domestic and global players in the space has significantly boosted the market revenues over the recent past. Rising demand for staple food crops including rice and corn has resulted in augmented revenues from the growing sales of seeds in the market.
The continuous efforts of the government to develop and expand the agricultural sector in Indonesia included carrying out various programs to assist the country in regaining its self-sufficiency in rice. The government introduced mechanized agricultural technology, repaired the damaged agricultural infrastructure and opened new rice fields to supplement rice production in Indonesia. Ministry of Agriculture (MoA) of Indonesia has been working towards increasing the food crop production in the country, by providing free seeds to farmers. MoA will allocate 15.0 kg of hybrid corn seed per hectare or 25.0 kg of composite corn seed per hectare to the farmers of the country during 2017. The government of the Indonesia planned the allocation of various types of seeds at no cost for MY 2016-2017.
Ken Research announced its latest publication on “Indonesia Seed Market by Types of Seeds (Fruits and Vegetables Seeds, Grains and Cereals Seeds and Plantation Crops Seeds), by Hybrid Seeds and Non-hybrid Seeds, by Organized and Unorganized Players, by Farmer Saved and Commercial Seeds – Outlook to 2021” suggested a rapid growth in Indonesia seed market, majorly driven by rising numbers of steps taken by the Ministry of Agriculture to make Indonesia a self-sufficient nation in food grains. Increasing use of hybrid seeds and rising demand for staple food crops by the population are attracting large number of potential players to enter the space. Indonesia Seed Market is projected to register a positive CAGR of 8.1% during the period 2016-2021.
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