Producers, consumers in Indonesia feel the pinch as prices of food staples surge higher
Tofu and tempeh — made from soybeans — have long defined everyday meals in Indonesia. They are among the country’s most accessible and consumed sources of protein, but Indonesia imports more than 90% of the soybeans it consumes. These food staples are now becoming more expensive as global volatility, a stronger US dollar and weaker rupiah drive up import costs. Producers say their margins are being squeezed and consumers are now feeling the pinch. The government is introducing consumer stimulus measures that will cost nearly US$1.5 billion, which will mostly go towards food assistance. Chandni Vatvani reports from Jakarta.
Tofu and tempeh — made from soybeans — have long defined everyday meals in Indonesia. They are among the country’s most accessible and consumed sources of protein, but Indonesia imports more than 90% of the soybeans it consumes. These food staples are now becoming more expensive as global volatility, a stronger US dollar and weaker rupiah drive up import costs. Producers say their margins are being squeezed and consumers are now feeling the pinch. The government is introducing consumer stimulus measures that will cost nearly US$1.5 billion, which will mostly go towards food assistance. Chandni Vatvani reports from Jakarta.
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