Monday, June 29, 2009

Breaking News-RTRS-INTERVIEW-Indonesia considers reimposing soybean import duty

JAKARTA, June 26 (Reuters) - Indonesia, the world's sixth-biggest soybean importer, is looking into reimposing import duty on soybeans in order to support local production, an agriculture ministry official told Reuters on Friday.
"We were once self reliant in soybean supplies back in the 1990s before imported soybeans flooded the market. So why can't we try again," Sutarto Alimoeso, director general of food crops at the ministry, said in an interview.
He said farmers would be encouraged to plant more if soybean prices were attractive.