Rupiah plunge drags down tempe industry

SEMARANG: The rupiah's slide against U.S. dollar has hit the tempe industry in Semarang, with observers fearing many producers will soon go bankrupt as prices for imported soybeans soar.

Two weeks ago, the price of imported soybean was between Rp 3,400 (0.34 U.S cents) and Rp 3,500 a kilogram, but now it has climbed to between Rp 3,650 and Rp 3,750 a kilogram.

Producers have already begun to make smaller tempe cakes to cut costs. -- Antara