Bandung City Government Addresses Rising Soybean Prices Amid Industry Concerns

The Bandung City Government has raised alarms over the escalating prices of soybeans, which are approaching IDR 11,000 per kilogram. This surge is significantly affecting the tofu and tempeh industry, which relies heavily on soybeans as a primary ingredient. In response, local authorities are implementing measures aimed at supporting craftsmen by enhancing operational efficiencies and ensuring stable distribution channels to preserve purchasing power. The current sentiment surrounding soybean prices is marked by an adjusted sentiment score of 4, indicating heightened concern among stakeholders. Additionally, the topic has garnered a coverage trend of 100, reflecting extensive media attention and public discourse on the implications of these rising costs. As the market grapples with these challenges, the recent three-month rate of change in sentiment shows a slight decline at -0.0037, suggesting a cautious outlook among industry participants, while the broader sentiment remains characterized by extreme fear, juxtaposed against a backdrop of extreme greed in other market segments.