Indonesia drawing foreign interest in corn plantations as prices remain high

Indonesia is attracting investments in corn plantations as corn prices remained high in the international markets,  local media reported.

Aroenerpia Company from South Korea intends to develop 17,500 hectares of corn plantations in Buol, Sulawesi. Another company, PT Rainbow Energy plans to develop 40,000 hectares of plantations in East Java, the Jakarta Post said on September 9.

The two were among twenty-five companies who have expressed interest.

The Indonesian government is also expanding its seeds and fertilizer supply by upgrading 8 fertiliser factories in the country.

Work would begin in the middle of next year and is expected for completion by 2011.