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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.