September 21, 2007

Higher demand stokes increases in Indonesian meat prices 

Higher meat demand, coupled with the appreciating currencies of Australia and New Zealand, have caused Indonesia's retail meat prices to rise in the past few weeks, according to Meat and Livestock Australia (MLA).

Indonesia is having higher meat demand now due to the Muslim fasting month of Ramadan, which usually sees peak consumption as Muslims feast after a day of fasting.

Retail prices for most Australian chilled beef cuts in Indonesia have risen over previous year's levels.

Chilled Australian ribeye was 25 percent higher than the same month the previous year, reaching AUS$31.32/kg, while chilled striploin was 16 percent dearer, reaching AUS 28.12/kg.

The price increase was more modest for New Zealand chilled striploin, prices rose AUS$0.10 from August to average AUS$22.50/kg,

However, the prices of chilled oxtail surged 55 percent to AUS$14.06/kg. Prices of these beef cuts were also higher than the same time last year.

Retail prices for beef from imported live cattle were up for tenderloins, briskets, topsides and knuckles.

Indonesian chicken prices also increased AUS$0.20 to AUS$2.11/kg, while pork prices rose AUS$0.10 to AUS$3.96/kg.

(US$1=AUS$1.15)