Trade Minister Lutfi Reveals Surprisingly, Soybeans Are Expensive Due To 5 Billion Pigs In China And El Nina In Argentina

JAKARTA - Trade Minister, Muhammad Lutfi, stated that the increase in soybean prices in Indonesia was due to several problems from importing countries such as 5 billion pigs in China, and the bad weather of El Nina in South America.

"So the problem with soybeans in Indonesia, whose prices have recently gone up due to several problems and the occurrence of El Nina in Argentina", said Muhammad Lutfi while in Makassar, quoted from Antara on Friday, February 18.

He said the price of soybeans per bushel, which was previously 12 US dollars (US) rose to 18 US dollars per bushel.

The increase in soybean prices, apart from the impact of the bad weather El Nina in Argentina and South America, which is an importing country, is also influenced by the huge demand in China.

He stated that recently, in China, there were 5 billion new pigs, all of which feed on soybeans.

"In China, at first the pig farms there did not eat soybeans, but now they eat soybeans. Moreover, recently there are 5 billion pigs in Chinese farms that eat soybeans", he said.

Lutfi explained that his party is currently preparing to mitigate the soaring national soybean price.

"Right now we are preparing the mitigation and the first opportunity next week we will announce what the policy will be", he explained.

He also said that the domestic demand for soybeans is 3 million tons annually, while domestic soybean cultivation and supply can only afford 500 to 750 tons per year.

Meanwhile, to cover the national need for soybeans, his party then imports from several countries such as the South American country.