Indonesia: Currency devaluation drives up cost of staple food in Indonesia.

Shotlist Jakarta, Indonesia - Recent 1. Various of tempeh producer at work, bags of tempeh on shelves 2. SOUNDBITE (Bahasa Indonesia, dubbed in English) Djunaedi, tempeh producer (full name not given)(starting with shot 1): "It's quite sad because we were originally selling at the normal price, now the price isn't normal, so to speak. If the price doesn't stabilize, we will experience losses, because the soybean price is already too high. So, it's too much. All we want is to survive." 3. Various of people at market; stall owners 4. Various of people dining 5. SOUNDBITE (Bahasa Indonesia, dubbed in English) Eko Listiyanto, macroeconomics expert, Institute For Development of Economics and Finance: "The main trigger remains the ongoing war between Israel, Iran, and the United States. Domestically, geopolitics is heating up. This has resulted in a significant number of investors exiting the Indonesian market, through both the stock market and the money market. As a result, this caused turmoil in our financial sector, especially our stock market and eventually, the rupiah." 6. Various of workers, clients at money charger outlet; banknotes being counted Storyline Currency devaluation has pushed up prices of staple foods, including tempeh, making life harder for millions across Indonesia. The Indonesian rupiah has hit its weakest level ever against the U.S. dollar, rippling through markets and small businesses across the country. Tempeh producers are among the hardest hit given the country's heavy reliance on imported soybeans, the key ingredient in the staple protein source. Djunaedi, who has been in the business for nearly three decades, said the current situation is unprecedented, leaving him with little choice but to raise prices. "It's quite sad because we were originally selling at the normal price, now the price isn't normal, so to speak. If the price doesn't stabilize, we will experience losses, because the soybean price is already too high. So, it's too much. All we want is to survive," he said. At the same time, investor capital has been flowing out of Indonesian markets due to the Iran war, adding further strain to the economy and intensifying pressure on the weakening currency. "The main trigger remains the ongoing war between Israel, Iran, and the United States. Domestically, geopolitics is heating up. This has resulted in a significant number of investors exiting the Indonesian market, through both the stock market and the money market. As a result, this caused turmoil in our financial sector, especially our stock market and eventually, the rupiah," said Eko Listiyanto, macroeconomics expert with the Institute For Development of Economics and Finance. The government is attempting to cushion the impact by introducing a subsidy of 2,000 rupiah per kilogram for imported soybeans. Officials say the subsidies are designed to provide short-term relief and reduce some of the pressure facing businesses and consumers, but with the rupiah continuing to face volatility, small-scale producers like Djunaedi say they are still being forced to shoulder much of the financial strain and adapt however they can to stay afloat. [Restrictions: No access Chinese mainland]