Ben Santoso

Analyst, RaboResearch Food & Agribusiness at Rabobank Singapore

Ben is a Senior Analyst in the global RaboResearch Food & Agribusiness department. Located in Singapore, he is focused on research and advisory for the animal protein sector in South-East Asia.

Ben had over 20 years of experience as an Equity Research Analyst with extensive exposure to leading companies within the food and agricultural sector in the region. Before joining Rabobank, Ben had worked in DBS Bank, covering regional plantations and Indonesian animal protein stocks. Prior to that, Ben held similar equity research roles based in Indonesia in NC Securities and Danareksa Sekuritas.

Ben holds a Master of Science, Construction Engineering and Management from Columbia University, New York.


Trends in animal protein production and consumption in Asia

Summary: With rising income, demand in Asia will require significant investment in animal protein production capacities. But changing needs of connected consumers, together with limited resources, trade issues, biosecurity and technology will dictate how this will be achieved. 

Asian production in Animal Protein – demand perspectives
Size and growth rates amongst different countries in Asia
Feed/investment requirements vs. land/resources scarcity

Antibiotic-free feed
Animal disease threats
Animal welfare & sustainability

Consumer trends
Fork to Farm – consumer demands, transparency
High protein diet – embarcing Health & Nutrition
Demographic shift – moving towards foodservice, convenience, value-for-money and e-commer

Supply and trade direction
Changes in China protein requirement will impact AP trade globally
ASF affecting the AP trade flows
Consolidation in poultry – moving from open-house to automated closed-house
Changing crop patterns due to weather will influence feed flow