Indonesia mulling soybean import subsidy as prices rise
Though details are still being ironed out, the subsidy plan aims to ease price-related pressures on soybean importers while ensuring their availability and affordability, including for consumers of tofu and tempeh.
Indonesia is contemplating introducing a subsidy for soybean imports amid rising global prices, as reported by Trade Minister Budi Santoso. The move aims to alleviate pressure on importers and ensure the affordability and availability of the staple food ingredient, crucial for products like tofu and tempeh consumed daily by millions.
Currently, Indonesia imports around 2.43 million tonnes of soybeans annually, compared to its domestic production of just 311,000 tonnes. The government is still finalizing the details of the proposed subsidy, including its mechanism and the extent of import volume, with the intention of implementing the measure within this year.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
