With a population over 255 million, Indonesia is the 4th most populated nation in the world. The high number of population make indonesia's market a highly potential wheat flour products market.
The opportunity is widely open looking at the rapid growth of wheat flour mills from only five mills in 1970 to more than 20 mills in 2014. Moreover 53% of the population lives in the city with a 2.69% rate of urbanization. This population grow with a greater purchasing power and better health awareness. They are slowly changing their diet from rice to wheat flour based products.
This means there is a significant corelation between the producer growth and the ever-rising demands for wheat flour. This opportunity underlying three companies to established PT Bungasari Flour Mills in February 2012 as a joint venture.
Those three companies are FKS Group, Malayan Flour Mills and Toyota Tsusho. FKS Group is known as importer, processor and distributor of food product with a high reputation in agricultural business both domestically and internationally. Malayan Flour Mills Berhad (MFM) is the first wheat flour mills that operate in Malaysia which open its first mills in 1966. Toyota Tsusho Corporation is a japan based Toyota group subsidiary company that main activity is in trading natural resources. Experience, ability and expertise from these three companies becomes the main asset in developing services and products that Bungasari offered.