Government Steps In To Prevent Soybean Price Escalation

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The Indonesian government has announced a six-month subsidy programme for local producers of tofu and tempeh (soybean cakes) after spiralling soybean prices threatened the livelihood of those engaged in the industry. Immediately on the back of scrapping soybean import tariffs, the government has announced a subsidy of IDR1,000 per kilogram on soybean purchases. However, many observers have questioned the impact that the government's efforts will have, both on food price inflation and the profitability of local