RI cattle import increases

RI cattle import increases

MELBOURNE (Bloomberg): A doubling in the value of the
Indonesian rupiah over the past three months has revived demand
for live cattle from a country that was formerly Australia's best
customer, cattle industry officials said on Tuesday.

The Indonesian rupiah, which now trades at 7,400 a U.S.
dollar, has recovered from a record low of almost 17,000 to the
U.S. dollar in June. In addition, rising beef prices within
Indonesia, cheap prices for Australian cattle and greater
availability of trade finance is helping to restart trade.

Six boatloads of cattle have been shipped to Indonesia in the
past few weeks, and "with demand rapidly improving, a squeeze on
shipping space and on cattle availability could be on the
horizon," said Kevin Shiell, chief executive of the Australian
Live Cattle Export Corporation in Sydney.

Australia exported 387,444 head of live cattle to Indonesia
during 1997. That volume was reduced by about two-thirds, though
exporters hope it can soon recover to about half its previous
level.