January 2, 2009

Malaysia's Kedah Corp to enter meat trade in Australia

Malaysia's Kedah Corporation has announced its intention to enter the meat trading business in Australia.

The state-owned corporation plans to export Halal beef throughout Southeast Asia, especially to Indonesia.

Mentri Azizan from the corporation said there is one Indonesian client who wants to import 200 tonnes of fresh beef per day from Australia.

Azizan also said he can easily market 600 tonnes per day.

However, an Australian beef trader said while Asian sovereign funds are strong, the meat trade is a tough business for insiders, let alone outsiders. The beef trader added that newcomers to the business either enter poor but exit rich, or enter rich but exit poor.