Tridge summary
Indonesia relies on imported soybean supplies for over 80%, leading to an impact on tofu and tempeh craftsmen when stocks run low. The government is working to ensure new supplies of soybeans for the domestic market, with the expectation that the presence of new stocks will help better manage prices and reduce scarcity. The scarcity of soybeans has caused prices to rise, but according to economic law of supply-demand, prices should have fallen due to several countries harvesting soybeans.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Jakarta, CNBC Indonesia - Indonesia still relies on imported soybean supplies for more than 80%. Therefore, when stocks start to run low, tofu and tempeh craftsmen will feel the impact. However, the government ensures that the domestic market will receive new supplies of soybeans. "There is a delay in soybeans coming in from abroad. But they will come in soon," said Head of the National Food Agency (Bapanas) Arief Prasetyo Adi to CNBC Indonesia, Thursday (4/1/2023). The presence of new stocks means that the presence of soybeans can be better managed, so that the price can be further reduced. "Future prices will also fall along with availability from abroad," said Arief. The scarcity of soybeans has caused prices to rise at the moment. According to the economic law of supply-demand, the price is also higher than normal. In fact, prices should have fallen because Aip said several countries were harvesting soybeans. "Oh yes, the price automatically goes up, it once went up in August ...
Source: Cnbcindonesia
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