June 22, 2007

Indonesia's soybean imports up in 2006

Imports of soybean in Indonesia have jumped in the past several years to reach 1.2 million tonnes in 2006, up from 1.1 million tonnes in 2004.

The rise followed a declining trend in the domestic production since 1993 after peaking at 1.8 million tonnes in 1992 when the country was self sufficient in soybean supply.

In 2005, domestic production dropped to only 808,353 tonnes and fell again to 749,038 tonnes in 2006, a senior official of the Indonesian agriculture ministry. 

He said that in the past seven years, the country was able only to produce soybean enough to meet 40 percent of its requirement resulting in an increase in imports.

In the 2000-2005 period imports averaged 1.218 million tonnes a year valued at US$358.37 million, the official said.