Australia live cattle exports to SE Asia fall<\/p>\n
SYDNEY (AFP): Live cattle exports to Australia's important
\nSoutheast Asian markets have dropped dramatically since several
\nregional currencies crashed to record lows, an industry spokesman
\nsaid yesterday.<\/p>\n
The Australian Livestock Exporters Council painted a grim
\npicture of the situation facing Australia's live cattle exporters
\nand warned some could be driven from the market.<\/p>\n
Chairman Graham Daws said Indonesia's decision to float its
\ncurrency last month wreaked havoc on live cattle exports, worth
\nabout A$230 million (US$168 million) a year to Australia.<\/p>\n
"The Indonesian market is the single largest market and the
\ndisruption could be in the order of 50 percent," he said.<\/p>\n
The currency movement had made Australian cattle extremely
\nexpensive and come at a time when Indonesian feedlots were
\nrelatively full, he said.<\/p>\n
"Most (Indonesian importers) would be fairly cautious about
\nwhat they are doing at the moment because of the very high cost
\nof cattle."<\/p>\n
Prices were also dropping in the next most important markets,
\nthe Philippines and Malaysia, he said, partly because Australian
\nexporters stung by the Indonesia downturn were offloading their
\nstock there.<\/p>\n
"What is emerging now is that prices are coming off 10 to 15
\ncents a kilo in the Philippines and Malaysia," Daws said.<\/p>\n
Primary Industries Minister John Anderson said Tuesday he
\nhoped the situation would soon be resolved.<\/p>\n
"I can only say that I sincerely hope and trust that we can
\nget over it quickly," he told reporters in Canberra.<\/p>\n
"These are very important outlets for particularly the
\nnorthern (Australia) beef industry, but as we are now seeing,
\nwith other opportunities opening up, for the southern industry as
\nwell," he said.<\/p>\n
"And these are tough enough times for the beef industry. The
\nminimum disruption would be very welcome."<\/p>\n
Daws said some exporters could seek to boost exports to Middle
\nEast markets of Egypt and Libya to compensate.<\/p>\n
"But that is a last-resort option," he said.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/australia-live-cattle-exports-to-se-asia-fall-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }