As per the latest update from United States Department of Agriculture (USDA), Indonesia Soybean production is forecast at 510,000 ton in 2019/20, a 10,000 ton decline from 2018/19. The declining production the result of continued decrease in planted area as farmers continue to prefer more lucrative crops, such as corn and rice. Most farmers planting soybeans do so as part of crop rotations to restore soil health; however, other legume crops such as mungbeans often compete with soy. Farmers in key production areas, such as Grobogan in Central Java, have maintained their soy crops to meet the seed demands of government projects promoting soybean self-sufficiency. In line with population growth, soybean imports are forecast at 2.635 million tons in 2019/20, an increase of 35,000 ton from 2018/19. Powered by Commodity Insights
|