The Indonesian Ministry of Trade (Kemendag) facilitated a business exploration event for Indonesian coffee products in Busan, South Korea, on April 30, 2024, through the Indonesian Trade Promotion Center (ITPC) Busan. The business exploration resulted in a potential transaction of USD 1.71 million or approximately IDR 27.53 billion, underscoring South Korea's interest in Indonesian coffee products. This initiative aligns with the upcoming World Coffee Expo Busan scheduled from May 1-4, 2024. Husodo Kuncoro Yakti, Head of ITPC Busan, emphasized the growing demand not only for Indonesian specialty coffee but also for palm sugar products, including syrup, sauce, and crystal forms, which complement coffee choices and food sweeteners. Furthermore, the business exploration serves as a promotion for Indonesian coffee and aims to inform coffee product importers of Indonesia's participation in the World Coffee Expo Busan. This collaborative effort involves Kemendag, the Specialty Coffee Association Indonesia (SCAI), BUMN Holding Perkebunan, and Toko Kopi TUKU, with participation from importers such as Harris Coffee, Hippo Coffee Bean, Coffee Spell, and Jaol Importer.
Loto Srinaita Ginting, Advisor for Finance and SME Development at the Ministry of SOEs, commended the collaborative efforts of all stakeholders involved in this business exploration, emphasizing the necessity for collaborative activities to boost Indonesian exports. Dwi Suntoro, Director of PT Perkebunan Nusantara III (Persero), expressed support for this collaboration, highlighting PTPN's role in connecting potential buyers with businesses offering quality and quantity-assured products to meet market demands. South Korea's coffee imports from Indonesia amounted to USD 11.2 million in 2023, reflecting a consistent upward trend over the past five years (2019-2023), with an average growth rate of 3.85%. This underscores South Korea's preference for Indonesian coffee products. Indonesia's non-oil and gas trade with South Korea totaled USD 18.17 billion in 2023, with a notable increase of 12.14% over the past five years (2019-2023). Indonesia's non-oil and gas exports to South Korea reached USD 8.60 billion in 2023, showing a 14.21% increase over the past five years, while imports from South Korea amounted to USD 9.57 billion in 2023, rising by 10.26% over the same period.
