Import Duty for Soybean Imports should be Eliminated

By : Hariyanto And Aldo Bella Putra | Saturday, October 21 2017 - 14:42 IWST

Ilustrasi Kedelai (Foto Ist)
Ilustrasi Kedelai (Foto Ist)

INDUSTRY.co.id - Jakarta - The Center for Indonesian Policy Studies (CIPS) said the import duty policy on soybean imports should still be released because it makes it easier for consumers and small industries in the country.

"Imposing import duties on soybeans will make it difficult for consumers and small industries to obtain raw materials," said Head of Research of CIPS Hizkia Respatiadi in Jakarta, not long ago.

He said this was related to the proposal of the Ministry of Agriculture which plans to impose import duties on soybean import.

According to Hezekiah, if imports of soybeans are subject to import duty, soybean import price will increase so burdensome consumers.

He argues that so far the national soybean needs cannot be met by local soybean farmers.

"Nearly 68 percent of the national soybean demand is met by imports, and by freeing import duties, the government ensures consumers and industries can get quality soybean supplies from various sources and at affordable prices," he said.

Related to the farmers, CIPS always encourages the government to improve the welfare of farmers through existing social protection programs, such as Family Hope Program (PKH), Healthy Indonesia Card (KIS) and Smart Indonesia Card (KIP).

Bank Indonesia has issued bilateral trade settlement arrangements using local currency settlement, in order to reduce the dependence of importers and exporters against the US dollar in transactions with a number of partner countries.

"The arrangement of local currency settlement (LCS) is also expected to support the stability of the rupiah exchange rate," said Director of Communications Department of BI Arbonas Hutabarat in Jakarta, Monday (16/10).

The terms of use of rupiah in the settlement of trading transactions are listed in Bank Indonesia Regulation (PBI) No.19 / 11 / PBI / 2017 which is effective on January 2, 2018.

Earlier, the Central Bureau of Statistics (BPS) said the value of Indonesian imports in September 2017 decreased 5.39 percent from the previous month by 13.50 billion US dollars to 12.78 billion US dollars.

Head of BPS Suhariyanto said the decline was caused by the decline of oil and gas imports by 76.3 million dollars and non-oil and gas imports by 652.3 million dollars.

"Imports fall deeper if compared to exports, import market share is still not moving from China," said Suhariyanto, in a press conference in Jakarta, Monday (16/10).

News Comment

Today's Industry

The President Director of PT Trimegah Sekuritas Indonesia Tbk (TRIM), Philmon Tanuri (left) delivered remarks at the kick off of Trimegah's collaboration with IA SBM-ITB in Jakarta on Wednesday (05/06/2024).

Jumat, 07 Juni 2024 - 19:43 WIB

Trimegah Sekuritas Supports Ikatan Alumni SBM-ITB to Realise Lifelong Learning Mission

In order to realise its mission of “Educate and create wealth for community through unique and professional investment experience”, PT Trimegah Sekuritas Indonesia Tbk (TRIM) collaborates…

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…

Receives Chairman of Jababeka (KIJA), Menpora Dito Ready to Support the Development of Sports SEZs

Rabu, 21 Februari 2024 - 08:23 WIB

Receives Chairman of Jababeka (KIJA), Menpora Dito Ready to Support the Development of Sports SEZs

Chairman of PT Jababeka Tbk (KIJA), Setyono Djuandi Darmono met the Minister of Youth and Sports of the Republic of Indonesia (Menpora RI) Dito Ariotedjo at the Kemenpora RI Office, Senayan,…