According to the trading economics data, international soybean prices rose to USD 17.08 per bushel and rose to USD 17.10 on March 25, 2022. Russia - Ukraine conflict and Argentina temporarily stopping soybean export have contributed to this price increase.
As a result, the price of imported soybeans in Indonesia continues to soar. Market Monitoring System and Basic Needs of the Ministry of Trade (Kemendag) noted that the price of imported soybeans on 25 March 2022 rose to USD 0.97 per kg, compared to the previous day, which was still USD 0.95 per kg. Last month, the Indonesian Tempeh Crafter association already put a National Production Strike due to constantly increasing soybean prices. Soybean is made into Tempeh and Tofu, a primary staple food in Indonesia.
As a result, the price of imported soybeans in Indonesia continues to soar. Market Monitoring System and Basic Needs of the Ministry of Trade (Kemendag) noted that the price of imported soybeans on 25 March 2022 rose to USD 0.97 per kg, compared to the previous day, which was still USD 0.95 per kg. Last month, the Indonesian Tempeh Crafter association already put a National Production Strike due to constantly increasing soybean prices. Soybean is made into Tempeh and Tofu, a primary staple food in Indonesia.
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