Rupiah Weakens But Soybean Prices Do Not Surge, Here's Why
Rupiah Weakens But Soybean Prices Do Not Surge, Here’s Why
Jakarta, CNBC Indonesia – The weakening of the Indonesian rupiah against the United States dollar has not yet impacted the price or production of tempe and tahu at the producer level. The Indonesian Tempe and Tahu Producers Cooperative Union (Gakoptindo) confirms that supply and the price of soybeans for producers are still maintained, even though most raw materials are imported.
For information, the rupiah exchange rate closed weaker in trading on Friday (22 May 2026). According to Refinitiv data, the rupiah stood at Rp17,690 per US1, depreciating0.28.
However, the Secretary-General of Gakoptindo, Wibowo Nurcahyo, said the situation has not hit the tempe and tahu industry at the grassroots.
‘For tempe and tahu producers, the scale is not affected by the dollar. What affects it is when the Iran war occurs, because packaging prices are rising,’ Wibowo told CNBC Indonesia on Friday (22 May 2026).
He emphasised that to date there has been no rise in soybean prices at the producer level despite the rupiah being under pressure against the US dollar.
‘No impact. The government through Bapanas (National Food Agency) has already issued rules to importers,’ he said.
Wibowo explained that the rules are laid out in a joint commitment to stabilise supply and price of soybeans made in April 2026. In the agreement, importers are asked to keep soybean prices at the producer level stable.
The joint commitment document also states that importer prices should follow the Harga Acuan Penjualan (HAP) of up to Rp11,500 per kilogram. Accordingly, soybean prices at the consumer level or for tahu and tempe producers should be kept from exceeding Rp12,000 per kg.
Additionally, importers are asked to ensure soybean supply for the national tempe and tahu industries.
According to Wibowo, the policy has so far prevented price increases or reductions in production at the producer level of tempe and tahu despite the rupiah weakness.
‘No,’ he said when asked about the possibility of price increases or production cuts.
He explained that production calculations estimate that 1 kg of soybeans yields about 1.6 kg of tempe. Meanwhile, the current wholesale price of tempe at the producer level remains around Rp15,000 per kg.
Under these conditions, producers view the pressure from the US dollar as not yet disruptive to tempe and tahu production or prices in the domestic market.