Indonesia discusses benchmark buying price for soybeans

The Deputy Minister of Agriculture, Rusman Heriawan said that HPP of soybeans is being discussed by several ministries, namely the Ministry of Agriculture, Ministry of Commerce, and Ministry of Finance.

Maman Suherman director of legumes and tubers at the Ministry of Agriculture, said the soybean price range at  farm level at the moment is IDR 6,500 per kg (US$ 0,67). “The Ministry of Agriculture suggested that the HPP of soybeans is around IDR 7,000 – 7,500 per kg (US$ 0,72-0,77). The aim is that soybean farmers are more motivated to increase production,” he said.

Suherman said that this year’s soybean production is expected to reach 1.5 million tonnes. “Currently, the soybean planting area is 660,000 hectares. This year we are targeting the additional planting area  to be around 220,000 hectares. The provinces that will be encouraged to increase the addition of soybean planting areas are Aceh, Lampung, West Java, Central Java, East Java, Yogyakarta, West Nusa Tenggara and South Sulawesi,” he said.