THE PRICE HIKE

The Confederation of Indonesian Tofu and Tempeh Makers Cooperatives demanded the [Indonesian] government lift a 5 percent duty on soybean imports…to help ease local prices that have risen 33 percent in the past three weeks…Surging soybean prices may boost inflation in Southeast Asia’s biggest economy that imports about 70 percent of its needs. Consumption of staples climbs during Ramadan as communal meals lift overall demand, even as followers fast during the day. The U.S. drought may spark a rebound in global food costs through October, halting a slide that sent prices in June to the lowest in 21 months…