Soybeans are largely used for animal feed, not processed into tofu and tempeh.

Tofu and tempeh producers in the Jabodetabek area staged a production strike from Monday (February 21st) to Wednesday (February 23rd).

This strike was triggered by the increase in the price of imported soybeans from Rp8,000/kg to Rp11,240/kg, making it difficult for local tofu and tempeh producers to operate.

According to the Central Bureau of Statistics (BPS), Indonesia imports the most soybeans from the United States, Canada, and Argentina. These three countries are among the world's largest soybean producers.

77% of the World's Soybeans for Animal Feed

According to Our World in Data, 77% of the world's soybean supply is used for animal feed. Poultry is the livestock that consumes the most soybean-based feed.

A further 20.1% is processed for human consumption. This breaks down as follows: 13.2% is processed into oil, 4.8% into tofu, tempeh, and other products, and 2.1% into soy milk.

The remainder of the world's soybean production is used for industry, primarily for biodiesel production (2.8%).

Quoting Trading Economics, soybean prices on the futures market have increased by 15.16% year-on-year (YoY). This price increase is due to the dry weather affecting the world's largest soybean-producing countries such as Argentina and Brazil.