Price of seaweed drops significantly in Indonesia due to surplus
Innovation & Technology
Market & Price Trends
Published Jun 3, 2020
The oversupply of seaweed in the domestic market has decreased the price of this commodity across Indonesia. This commodity is now valued at IDR 6000/Kg at the farmgate level, a significant drop from its lowest average price in the entirety of the first quarter of 2020 at IDR 10.000/Kg. A number of suppliers argued that the price has been caused by the oversupply of seaweed in the market, as the national seaweed exporters have not been able to absorb the raw seaweed from the local farmers as the demand from major importing countries such as South Korea and the USA has slowed down considerably in 2020.