April 18, 2007

Indonesia 2007 soybean imports seen up 7.8 percent

Indonesia may import 1.4 million tonnes of soybeans this year posting an increase of 7.8 percent over surging demand and a drop in local production, the US Grain Council said.

The council's country representative Ali Basry told said the increasing imports were due to an expected fall in domestic production caused by floods and droughts that has delayed the growing season.

Indonesia's state statistics bureau stated in March the decrease in planted area will cause a decline in soybean output by nearly half a percent this year to 745,530 tonnes.

According to Basry, Indonesia imports around 90 percent of its soybean from the United States, with the rest coming from China, Brazil and Argentina.