Forbes Indonesia - July 2019

JULY 2019 FORBES INDONESIA | 35

A

s the second-most im-
portant food commodity,
Indonesia’s maize produc-
tion has continued to sig-
nificantly increase in the
past five years. The coun-
try’s maize production was around 19 million
tonnes in 2014 and last year it passed 30 mil-
lion tonnes, almost 50% growth in five years.
The growth is in line with growing domestic
consumption of animal protein such as eggs
and chicken, since maize comprises 50% of
animal feed. And despite the growing appetite,
Indonesia’s consumption per capita of chicken
and eggs is still relatively low compared with
neighboring countries, which means there is
plenty of room for further growth.
Seed producer PT Bisi International is
riding the growth trend. The company con-

trols nearly 50% of the market share in hy-

brid maize seeds. Hybrid maize is one of the

main factors that have boosted productivity.

In the past five years, the company’s top line

has been growing at a steady 14.42% CAGR,

while the bottom line grew by 20% CAGR

in the same period, and this has mostly been

contributed by the maize seed business. The

constant growth in the company’s financial

performance has seen Bisi frequently listed

among Forbes Indonesia’s Best of the Best

list, which ranks the 50 best listed companies

in Indonesia based on their long-term finan-

cial performances.

“There’s a huge opportunity for maize pro-

duction in Indonesia and the government has

also been supportive in policy and imports.

That’s why the maize price has been in a good

balance for farmers and the poultry indus-

Seed producer Bisi International is already the market

leader in the maize seed business, but it still has

ambitious plans for growth.

BYARDIAN WIBISONO

SEEDS

OF SUCCESS