September 18, 2008
Ramadan drives beef prices in Indonesia
Beef prices in Indonesia soared in September as the country enters the second week of the Ramadan fasting month.
Wholesale domestic beef prices in wet markets jumped 20 percent to IDR 72,000 per kg compared to the beginning of September.
Domestic beef prices are expected to continue rising and to eventually hit IDR 100,000 per kg until October 1-2, as the peak consumption season drives up demand for beef.
In addition, demand for imported beef was also seen as robust.
US$1 = IDR 9,354.52 (September 18, 2008)
