Jul 7, 2025 11:44 AM IST
US Stock Market Live: Indonesia Pledges To Buy More US Wheat
Indonesia, the world’s second-biggest wheat buyer, plans to purchase more wheat from the US as it seeks to secure a trade deal ahead of the looming tariff deadline.
The Southeast Asian nation will sign a memorandum of understanding for wheat purchases during 2025-2030 with the US in Jakarta on Monday, Franciscus Welirang, the chairman of the Indonesian Flour Mills Association — known as Aptindo — said in a phone interview.
Indonesia may buy at least 800,000 tons of wheat from the US this year, up from 740,000 tons in 2024, and a minimum of 1 million tons annually from 2026, he said. The US last sold more than 1 million tons of wheat to Indonesia in 2020, when it shipped about 1.2 million tons, USDA figures show.