August 21, 2012

Difficulty in finding evidence of a cartel on imported soy was admitted by the Indonesian Business Competition Supervisory Commission (KPPU).

Until now, KPPU chairman Tadjuddin Noer Said could not provide evidence that there has been an unhealthy business competition by importers of soy.

Because of the difficulty, KPPU have now turned their attention to the soy distributor. KPPU suspected that the distributors stockpiled the soy, so the price of soy soared in the market.

Although KPPU is currently focusing on the distributor of soy, the investigation against the importer of soy is still continuing.

Said considered it a phenomenon that the high prices of soy occurred in the absence of government intervention in setting prices.