Ban on slaughtering cows in India; Pakistan has good change to capture 4.5 billion dollar left over market, says FPCCINovember 2, 2015
ISLAMABAD: Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Standing Committee on Agriculture Produce & Food Exports, Chairman Ahmad Jawad said on Tuesday that the ban on slaughtering cows in India would provide good chance to Pakistan to capture $ 4.5 billion left over market.
He said India’s exports of beef are on the rise even as several states expand their ban on the slaughtering of cows and bullocks. This has created opportunity for us to capture their rest of the share internationally.
Though India has been the largest exporter of beef in the world since last year, and has further widened its lead over second-ranked Brazil with a projected total of 2.4 million tons exported in 2015 against Brazil’s two million. But now India’s role in the global meat trade sticks out in the largely Hindu country where vegetarianism is widespread.
Although the slaughter of cows, sacred for the Hindus that make up India’s majority population, has long been banned in several parts of the country, states like Maharashtra of India. According to USDA report, it is predicted that global beef exports overall will rise to a record 10.2 million tons, 3% higher than the October 2014 forecast. Similarly, Pakistan is ranked 18th in the production of Halal Meat Market and its volume is only 2.9 % of the global Halal meat production which is very low.
Pakistan’s share in this is not as much as it should be, necessitating extra efforts on the part of the government to give much-needed boost to this sector. As there is no Muslim country included in the list of first 10 Halal meat exporters.
Jawad said Pakistan can play a major role in the global halal meat industry and has the potential to become a market leader since it has all the required ingredients. Regardless Halal meat exports in Pakistan grew by 9.5% in fiscal year 2014, reaching a record high of $230 million and still experts say that the market has even more room to grow.
Since 2003, Pakistan’s halal meat exports have grown at a compound annualised growth rate (CAGR) of 29.1%, growing from $14 million in 2003 to $230 million in fiscal 2014, according to data from the Pakistan Bureau of Statistics.
Jawad also viewed Pakistan has a 100% halal production base and has direct access to 470 million consumers in Central Asia, Middle East and Europe. Now Pakistan has a great opportunity to gain a big share in the global halal market by enhancing production and improving quality which could also give certain boost to our exports which went down day by day.