Indonesia: Soybean prices are secretly dropping

Jakarta, CNBC Indonesia - General Chairman of the Indonesian Tofu Tempe Producers Cooperative Association (Gakoptindo) Aip Syarifuddin revealed that the price of imported soybeans is now starting to gradually fall. According to him, the increase in soybean prices occurred because prices in their countries of origin such as the United States (US) and Brazil were also cheap. "It's starting to fall. Because newly harvested soybeans in the US or Brazil are cheap," said Aip to CNBC Indonesia, Monday (15/1/2024). Aip said the current price of soybeans is around IDR 11,000 per kg in Indonesia. "The price of Rp. 11,000 (per kg) has arrived in Indonesia, and some have also arrived at the tofu and tempe craftsmen. Because the importer's price is Rp. 10,750, there is Rp. 10,900 (per kg) like that, so the price at the craftsmen plus transportation costs between IDR 300-500, depending on the distance," he explained. Meanwhile, when soybean prices are high and supplies are scarce, Aip admits ...