FnB Industry Still Affected by Anti-Israel Boycotts

The Indonesian Food and Beverage Association (Gapmmi) believes that consumer consumption will increase throughout Ramadan 2024, despite a decrease in consumer spending in February.

Afiffah Rahmah Nurdifa

14 Mar 2024 - 20.20
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FnB Industry Still Affected by Anti-Israel Boycotts

One of the food industry production facilities. Ministry of Industry Special

Bisnis, JAKARTA — The food and beverage industry is driving sales throughout Ramadan following last year’s lacking performance with anti-Israel boycotts. This situation is exacerbated by the declining public spending since early 2024.

The consumer confidence index (CCI) based on the consumer survey by Bank Indonesia (BI) stood at 123.1 points in February 2024. This figure is 1.52 percent lower compared to the previous month, which was 125 points.

The Indonesian Food and Beverage Association (Gapmmi) believes that consumer consumption will increase again throughout Ramadan 2024, despite a decrease in consumption expenditure in February.

"The rise in prices of fresh and staple foods is squeezing the purchasing power for secondary and processed foods, especially the lower class who prioritize staples," said Adhi on Wednesday (13/3/2024).

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FnB Industry Still Affected by Anti-Israel Boycotts

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