Indonesian beef prices to increase

Новость на Казах-зерно:

Indonesians can expect to pay some 20% more for their beef this year due to a supply shortage.

Asnawi, Head of the Indonesian Beef Traders Association, attributed the shortage to the government’s decision to slash cattle import quotas which will affect cattle supply to slaughterhouses and feedlots.

As of last week prices stood at IDR 70,000/kg (USD 7.80). The government estimated a 5-7% price increase after import reductions, but prices have risen by as much as 25%. He foresees prices rising by 20% gradually until the end of the year, surpassing IDR 90,000 (USD 10) to IDR 100,000 (USD 11.12) per kg.

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