Indonesia: Get ready for tofu and tempeh prices to rise, the Rupiah will collapse

Jakarta, CNBC Indonesia - The Association of Indonesian Tofu and Tempe Craftsmen Cooperatives (Gapkoptindo) predicts that the price of tofu and tempe will increase at the end of 2023 or early 2024, the effect of the weakening of the rupiah exchange rate against the US dollar. Gapkoptindo Chairman Aip Syarifuddin confirmed that the weak exchange rate of the rupiah against the US dollar would have an impact on increasing the price of imported soybeans, and that would also have a direct impact on increasing the price of tofu and tempeh on the market. "So the weakening of the rupiah against the dollar, and also the increase in transportation costs, will really have an impact (on the price of tofu and tempeh)," said Aip to CNBC Indonesia, Wednesday (11/10/2023). Furthermore, Aip said, the increase in tofu and tempeh prices was also caused by world soybean prices which were also experiencing an increase. Meanwhile, the reason for the increase in world soybean prices, he said, is because ...