October 22, 2010

Indonesia to raise soy import by 200,000 tonnes

The Indonesian government is going to increase its soy import this season to 1.6 million tonnes soy, from earlier estimates of 1.4 million tonnes.

Unfavourable weather condition with unusually long wet season, caused by intense La Nina Phenomena disturbed the normal crop production in Indonesia.

After expected shortfall in rice production this year it is soy that is going to see the shortfall in production.

Earlier government signed deal with Thailand and Vietnam to get an assure supply of rice in coming season.

Ali Basry, director of the Indonesian representative office of the American Soybean Association, said, "The higher imports were because of unusually wet weather reducing local soybean production."