A PYMNTS Company

Indonesia: Path away from foreign competition leads to hardship for food vendors

 |  March 21, 2013

Indonesia’s drive to self-sufficiency, initiated by the global food crisis, is resulting in major antitrust issues in the meat, corn, rice, sugar, soybean and other food product markets as prices rise and markets are manipulated. As the nation strives for their goal by 2014, importers of various food products are reportedly manipulating prices and causing major shockwaves for individuals who make their living selling food. Import quotas were cut sharply last year for live cattle and boxed beef, leading to a steep decline in supplies around the country. Scandals concerning abuse of cattle in slaughterhouses lead to Australia banning imports to Indonesia in 2011; last year, the country banned beef imports from the US following a case of mad cow disease. Vice Agriculture Minister Rusman Heriawan has acknowledged that the government may have overestimated domestic cattle supplies, but has vowed to continue with the country’s plans for self-sufficiency.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    Full Content: Fox News

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.