India’s buffalo meat (carabeef) exports to Southeast Asia are growing fast, thanks to rising demand in China, even though the world’s second-biggest economy has not officially opened its doors to India in this sector.
According to data from the Agricultural and Processed Food Products Export Development Authority, overall exports to Vietnam between last April and October rose by almost 200% in value terms and doubled in terms of quantity compared to 2012.
Up the Mekong
At the same time, carabeef exports rose overall by 46% in value terms to US$2,361m, and 23% in quantity. Overall exports are expected to cross US$4bn over the coming year, compared to US$3.19bn just a year ago.
Vietnam accounts for 40% of India’s carabeef exports, although this is not from direct demand¾China is the world’s biggest consumer of buffalo offal, leading traders in Vietnam to re-export their supplies of Indian carabeef to their neighbour.
China has given an in-principle approval to direct carabeef imports from India this year, but it is yet to formalise the decision. According to Arjun Chavan, a Mumbai-based halal meat and frozen foods exporter, this has not yet stopped traders from tapping this fast-growing opportunity.
No comments:
Post a Comment