Trade and markets
 

Detail

Area
Indonesia
Commodity Group
Oilseeds, oils and meals
Commodity
Soybeans
Date
01/11/2013
Policy Category
Consumption and marketing
Policy Instrument
State purchases
Description
Continued state purchases with view to stabilize domestic prices of soy food products.
Notes
INDONESIA – soybean policy: Reportedly, the government again instructed BULOG, the state-run Board of Logistics, to import soybeans with a view to stabilize prices in the domestic market (see also MPPU Aug./Sep./Nov.’13). In August this year, BULOG and other selected players were granted permission to import soybeans for direct distribution to the country’s tofu and tempe producers. Reportedly, imports are allowed whenever the domestic soybean price rises above Rp 7 400 per kg (USD 0.62). At the same time, according to unofficial sources, the government is about to reconsider its official self-sufficiency policy for soybeans – possibly replacing the same with more realistic targets, acknowledging that the country lacks comparative advantages for growing soybeans.