April 15, 2014
  

 

A second Indonesian company in just over six months has bought a Top End cattle station signalling a strengthening of the live cattle export market, the Land reports.

 

Great Giant Livestock Co, the second-largest cattle feedlot in Indonesia, is believed to have bought Willeroo Station from the Sultan of Brunei for US$14.18 million.

 

The deal comes after Indonesian group Japfa, also known as Santori, snapped up Riveren and Inverway late last year for about US$32.86 million.

 

The 170,000 hectare Willeroo Station south-west of Katherine, has an estimated carrying capacity of 22,000 head of cattle. The deal, negotiated by Ruralco Property's Steve Liebelt and Andy Gray, included 17,000 head of cattle.

 

Gray would not confirm the name of the purchaser but said the sale demonstrated the demand from Indonesian businesses for agriculture.

 

"At the political level there was some anxiety but at the street level Indonesians are very keen to harness our cattle," Gray said.

 

Liebelt said the deal reflected increasing confidence in the Top End.

 

"This is a sign of an industry looking buoyant and that is transgressing through the whole business - livestock, merchandise and property."

 

A smaller property near Katherine is expected to sell to another Indonesian company soon and Ruralco has started a marketing campaign to sell Moroak Station also in the Northern Territory.

 

Agriculture minister Barnaby Joyce has previously backed foreign investment in the north where drought and live trade issues have made it difficult for producers.

 

The Northern Territory has the highest percentage of land under foreign ownership, at nearly 24%.

 

The Sultan of Brunei also owns land at Opium Creek, also in the Northern Territory.