November 12, 2008

             

Indonesia to end soy subsidies
                   
 

The Indonesian government has decided to stop subsidies for soy in 2009 due to price declines.

 

Indonesia has provided a subsidy of IDR 500 billion (US$44.8 million) for soy since March 2008 when soy prices on the domestic market soared to a high.

 

The subsidies, originally intended to be effective for nine months, will not be extended as soy prices have declined, said Bayu Krisnamuthy, a deputy at the office of the chief economics minister.