Food
A Brazilian investor has expressed interest to invest Rp 1 trillion ($77 million) for cattle breeding on Buru island in Maluku, competing with other investors to tap Indonesia’s lucrative but under-supplied beef market.
Aside from Brazil, Australia and several local investors are attracted in investing in cattle breeding on Buru Island, which was largely transformed into farmland by political prisoners during the New Order era under Suharto.
The government expects to sign on Monday the memorandum of understanding of the investment plan with the Brazilian investor, whose plan includes total capacity of producing 200,000 cattle a year.
“There are five [who are attracted to invest] and local investors, but this [Brazilian investor] is the one we might expect,” said Agriculture Minister Amran Sulaiman on Sunday.
Misguided policies and corruption among government officials have long hindered the country’s ability to meet local demand of beef, let alone being self sufficient in production.
