Beef Prices Fluctuate as Ramadan Approaches

Economics & Macro

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30/05/2017 17:15 WIB

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Average Retail Price of Beef, April 1 - May 30, 2017

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Average Retail Price of Beef, April 1 - May 30, 2017

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As the holy month of Ramadan begins, retail prices for beef have seen a significant increase. According to the National Strategic Food Price Information Center, the price of beef rose last week to Rp 115,800, up from Rp 110,900. However, in recent days, beef prices have begun to fall and are trending towards stability.

The initial price increase at the beginning of Ramadan is attributed to the increased demand for beef consumption by the public at the start of the fasting month. This is consistent with previous years. This price increase is predicted to continue until the celebration of Eid al-Fitr. However, the Ministry of Agriculture is optimistic that beef prices during Ramadan will not rise excessively. Current beef stocks are claimed to be sufficient to meet the needs of the fasting month and Eid al-Fitr.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."