India's current global supremacy in the buffalo meat export is expected to continue in 2016 as the demand improves in southeast Asia, Middle East and North Africa, says the latest report of United States Department of Agriculture (USDA).
The report predicts gains for major countries including India, Brazil and the US. The global production of beef is forecast to rebound 1 per cent higher to 59.2 million tonnes in 2016 as exports by the main traders are expected to rise 3 per cent to 9.9 million tonnes on stronger demand.Unlike other countries, India exports only buffalo meat as slaughter of cows and bullocks are banned in most states.
India's exports in the first six months to September, 2015 has shown a dip. The buffalo meat exports have fallen 10 per cent in value despite 3 per cent increase in quantity than a year earlier at 710,791 tonnes valued at Rs 12,171 crore as per the data of 'Agricultural and Processed Food Products Export Development Authority (Apeda). However, Indian companies are expecting the situation to get better in the coming months.
"We expect increased orders from the buyers. Apart from traditional buyers like Vietnam and Malaysia, other countries like Philippines have also started buying Indian buffalo meat," said Priya Sud, partner of Al-Noor Exports.
The devaluation of Brazilian currency real seems to have hit buffalo meat exports from India. Brazil is currently the principal competitor of India. India has been attracting buyers because of competitive rates for its buffalo meat. In 2014-15, India exported 1,475,526 tonnes va . 29,282 crore.lued at ` The USDA report indicates the India will widen lead over Brazil as top exporter. It points out that con tinuing herd expansion will drive production higher for the main ex porting countries.
Source :economictimes.indiatimes.com
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