Indonesia: Restaurant entrepreneurs predict beef price of 200,000/Kg

Published Sep 20, 2022

Tridge summary

The article highlights the impact of the increase in the price of subsidized fuel oil on the restaurant industry in Indonesia, with particular focus on the impact on the prices of basic foodstuffs. Before the fuel price increase, prices of items like eggs, wheat flour, rice, and meat had already seen an increase. The price of beef is expected to rise significantly, up to Rp. 200 thousand/Kg, due to logistics costs and fears of low stock levels by the end of the year. The Ministry of Trade has also noted an increase in the price of ham beef since the fuel price increase.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Jakarta, CNBC Indonesia - Restaurant entrepreneurs revealed that the increase in the price of subsidized fuel oil (BBM) has had many impacts on their business, especially in the increase in prices of basic foodstuffs. In fact, even before the increase in fuel prices, the prices of several basic food items have also increased. "So it went up twice, before the fuel price went up, it started to get expensive to 20 percent, after that it went up again," said Deputy Chairperson of the Indonesian Hotel and Restaurant Association (PHRI) Emil Arifin to CNBC Indonesia, Tuesday (20/9/22) . Some of the staple foods that experienced an increase in prices were eggs, wheat flour, rice and meat. Especially beef, the price is likely to continue to creep up. "Yesterday, PMK was cut a lot, stock was running low, so the price could increase in 2-3 months, it could increase again up to 30%. It could be that much (Rp 200 thousand/Kg)," said Emil. This means that the price of beef in several places, ...

Source: Cnbcindonesia