June 25, 2008

Indonesia will invest IDR 10 trillion (US$1.1 billion) in the domestic cattle industry with the aim to become self-sufficient in beef production within five years, according to agricultural minister Anton Apriyantono on Tuesday (June 24, 2008).
 

The government will help to set up 100 commercial and community cattle-rearing ventures, with each costing IDR 100 billion (US$10.8 million), Apriyantono said, without elaborating on the ventures.

Apriyantono said funding would be solicited from domestic banks while the government would guarantee loans for large ventures.

At present, Indonesia imports 500,000 cattle a year while importing beef equivalent to another 100,000 head, with supplies coming from Australia and New Zealand.

Apriyantono added that Indonesia would no longer be importing beef and cattle in five years' time.