Solutions for the new volatility in soybean prices in Indonesia still need time

Published 2021년 4월 5일

Tridge summary

The article highlights the ongoing controversy over the Indonesian government's plan to import rice during its harvest period and the anticipated rise in soybean prices, affecting the production of tempeh, tofu, and soy sauce. The increase in domestic soybean prices is attributed to reliance on imported soybeans, with the Ministry of Agriculture projecting a need for 2.6 million tons of soybeans in 2021. This situation is aggravated by weather conditions and economic factors in soybean-producing countries, together with China's recovery from swine flu, which has led to higher global demand. Experts suggest that Indonesia, heavily dependent on imported commodities, faces challenges in price stability and recommend strategies such as identifying true demand through tempe and tofu makers, utilizing empty land for soybean cultivation, and improving logistics to lower distribution costs and ensure supply.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Reporter: Tendi Mahadi | Editor: Tendi Mahadi KONTAN.CO.ID - JAKARTA. In the last few months, it seems that people in the country have been bombarded by news about the importation of foodstuffs. The latest is the polemic regarding the plan to import rice by the government in the middle of the main harvest period that will take place in the country. In the midst of polemics related to the planned import which is quite noisy, the public is predicted to be troubled again in the near future by the potential increase in the price of other foodstuffs, namely soybeans. At least the prediction of the increase in raw material prices for tempeh, tofu and soy sauce was conveyed by the Minister of Trade, Muhammad Lutfi, in mid January. At that time, the Minister of Trade projected that the price of new soybeans will enter a period of price stability in the middle of this year. In fact, he said that price fluctuations could still occur until May 2021. The accelerated increase in domestic ...

Source: Kontan