Indonesia is likely to increase its import quota in Q3 2015 after evaluating the country’s supplies
According to trade minister Rachmat Gobel, the country might increase imports to ensure meat prices do not go up. Maintaining a stable supply and price for beef is the goal, he said. However, before this decision can be taken, an evaluation of supplies will have to be done.
Earlier this week, the Southeast Asian nation decreased cattle import permits to 50,000 for Q3, which is less than one-fifth of what was allowed in the previous three months based on expectations of supply needs amid a drive for self-sufficiency, stated a Reuters report.
The lowered quota affected Australian farmers, especially in the north, as they rely on live sales to Indonesia. However, Australia is expected to record high beef sales this year and Indonesia remains a key market.
Indonesia imported 97,747 live cattle, or 98 per cent of its Q1 2015 quota of 100,000. It issued permits to import 250,000 cattle in Q2 2015 and later added a further 29,000 in anticipation of the annual rise in beef demand during the Islamic fasting months of June and July.
