In Ukraine, UkrAgroConsult reported that Indonesia has unveiled plans to prioritize wheat and soybean imports from the United States as part of a comprehensive trade agreement that reduces tariffs and establishes new agricultural trade channels between the two nations.
This initiative is tied to a $4.5 billion agricultural import commitment, linked to a broader reciprocal deal encompassing energy purchases and aircraft acquisitions, according to the report.
Agriculture Minister Andi Amran Sulaiman confirmed that wheat and soybeans are the primary focus of the import strategy. “We are focusing on importing wheat and soybeans from the US. These are the two main commodities,” Amran stated. The agreement was finalized during a July 16 phone call between US President Donald Trump and Indonesian President Prabowo Subianto.
Under the deal, Indonesia will eliminate several non-tariff barriers and recognize US FDA certifications for certain goods, while the US will reduce tariffs on Indonesian exports to 19% from a previously proposed 32%. According to Indonesia’s Central Statistics Agency (BPS), soybean imports reached 2.68 million tons in 2024, up nearly 18% from the previous year, with the majority sourced from the US. Wheat imports totaled 8.44 million tons in the first nine months of 2024, valued at $2.56 billion.
More on the story.
Category: Food & Agriculture
