Indonesia: Hard to find evidence of soybean cartel
The Indonesian Business Competition Supervisory Commission (KPPU) admitted the difficulty in finding evidence of a cartel on imported soybeans. Until now, KPPU chairman Tadjuddin Noer Said could not provide evidence that there has been an unhealthy business competition by importers of soybean.
Because of the difficulty, KPPU have now turned their attention to the soybean distributor. KPPU suspected that the distributors stockpiled the soybeans, so the price of soybeans soared in the market.
Although KPPU is currently focusing on the distributor of soybean, the investigation against the importer of soybean is still continuing.
Said considered it a phenomenon that the high prices of soybeans occurred in the absence of government intervention in setting prices.
