September 24, 2024

Indonesia partners with Brazil in US$296 million dairy cattle investment

Indonesia has entered into an investment collaboration with a Brazil-based company, valued at IDR 4.5 trillion (US$296 million), to develop 100,000 tropical dairy cattle, Antara reported.

This partnership was confirmed by Indonesia's Agriculture Minister Amran Sulaiman.

Sulaiman highlighted the importance of this investment, stating, "The presence of this Brazil investor can support our effort to realise meat and dairy self-sufficiency." The announcement was made following the signing of a memorandum of understanding (MoU) between PT Asiabeef Biofarma Indonesia and Brazil's Agropecuaria 31 (31 Group).

The collaboration is expected to reduce Indonesia's dependence on beef and dairy imports by focusing on large-scale livestock development. Minister Sulaiman emphasised that the investment would also create new job opportunities across various livestock sectors.

Following a meeting with Brazil's Minister of Agriculture and Livestock, Carlos Favaro, Sulaiman noted that several prominent Brazilian business players had expressed a strong interest in Indonesia's livestock sector. He expressed hope for future agreements between the two countries to further enhance livestock development.

The Indonesia-Brazil bilateral meeting took place after the G20 Agriculture Ministerial Meeting (AMM) in Chapada Dos Guimaraes, Brazil. Sulaiman reaffirmed Indonesia's commitment to transforming its agriculture and food systems through a comprehensive approach.

He also pointed to Indonesia's recent agricultural successes, noting the nation's achievement of rice self-sufficiency in 2017, 2019, 2020, and 2021. Additionally, Indonesia has seen a surplus in the production of corn, shallots, palm oil, chicken, and eggs to meet the needs of its 281 million citizens.

Sulaiman stressed the need for strategic action in agriculture, given the global population's expected growth to 8.6 billion by 2030. He concluded, "We must increase food production while conserving our depleting natural resources."

-      Antara