REPUBLIKA.CO.ID, JAKARTA - Ministry of Trade opens an opportunity to. private company to import soybean in order to stabilize prices. The measure aims to lower the soybean price in domestic market.

According regulation No. 45/M-DAG/KEP/8/2013 issued on August 28, 2013, the  import mechanism will use Registered Importer (IT) and Manufacturers Importer (IP). Companies other than Perum BuljñogiIí can also act to stabilize soybean price.

Import permit is limited to every six months period, from. January to June and from July to December. This system will be started from November 1, 2013.

Licensed Importer must fulfill at least 70 percent of its target. Otherwise, the Ministry of Trade can revoke the license. Bulog and soybean importers must absorb and sell its soybean to local tofu an tempe (fermented soybean -Ed) factories.

Director General of Foreign Trade in Ministry of Trade, Bachrul Chairi said national soybean stocks was sufficient to meet local needs until October 2013. Importers now stock 149 thousand tonnes soybean. About 150 thousand tonnes of additional imported soybean will arrive this month.

"Our soybean supply reaches 300 thousand tonnes," Chairi said.

Ministry of Trade has issued import approval to 21 companies until December 2013 with total soybean to be imported is 584 thousand tonnes.

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