JAKARTA Aug 27 Indonesia may scrap its 5
percent import tariff for soybeans in an effort to alleviate
domestic food price pressures, the trade minister said on
Tuesday, in a move that could also boost shipments of the
oilseed to the Southeast Asian nation.
"We are discussing with other ministries whether to scrap
the soybean imports duty, which is currently 5 percent,"
Indonesian Trade Minister Gita Wirjawan told Reuters, without
specifying whether the measure could be temporary or permanent.
After global food prices spiked last year, Indonesia
temporarily scrapped its soybean import tariff and extended the
role of state procurement body Bulog beyond rice in order to
build bigger food stockpiles.
Indonesia meets 70 percent of its annual needs of the
oilseed through imports, mainly from the United