Indonesia: Soybean stocks are running low, and the price of tofu and tempeh is soaring again

REPUBLIKA.CO.ID, JAKARTA -- The Central Statistics Agency (BPS) noted that there was an increase in the prices of tofu and tempeh which contributed to inflation throughout November 2022. Allegedly this increase was due to depletion of domestic import stocks and an increase in world prices. "The increase in the price of tofu and tempeh is due to dwindling domestic soybean stocks, while the realization of soybean imports is also slow. This is information from the National Food Agency and the Ministry of Agriculture," said Deputy for Distribution and Services Statistics, BPS, Setianto in a press conference, Thursday (1/12 /2022). He explained, during November 2022 the average price of tofu was IDR 11,680 per kg, an increase from the previous month of IDR 11,438 per kg. Tofu contributed to inflation of 2.2 percent on a monthly basis or month to month (mtm) or 12.43 percent on an annual basis or year on year (yoy). Meanwhile, the price of tempeh rose again to IDR 12,949 per kg from the ...