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Indonesia's Central Bureau of Statistics (BPS) reports show a declining trend in soybean imports from 2017 to 2023.
In 2023, Indonesia imported 2.67 million tons of soybeans, representing a 2.16% year-on-year (YoY) decrease. This is the lowest level since 2017.
The value of soybean imports also fell by 9.36% YoY to US$1.47 billion last year.
By country of origin, the United States was the largest soybean exporter to Indonesia in 2023, with a volume of 1.94 million tons. The US has consistently been the largest supplier to Indonesia for the past seven years.
This was followed by Canada (271,280 tons); Brazil (24,220 tons); Argentina (23,120 tons); and Malaysia (6,330 tons).
Meanwhile, the government plans to reduce soybean imports to achieve self-sufficiency. However, this will not happen next year as the government will prioritize achieving self-sufficiency in rice.
"We will first address carbohydrate needs, such as rice and corn for animal feed," said Deputy Minister of Agriculture Sudaryono in a statement, as reported by Katadata on Thursday, September 12, 2024.
He added that after Indonesia achieves self-sufficiency in carbohydrates, the government will strive to develop other sectors, such as horticultural food estates.
"There are also food estates that we will dedicate to other commodities. Soybeans are not excluded," said Sudaryono.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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