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Buffalo Meat Exports To Vietnam Up 200% In Value On China Demand
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Though China is yet to formally open its doors to buffalo meat from India, a threefold rise (in dollar terms) in exports routed through Vietnam has lifted traders.
China has, in principle, decided to allow direct imports, but the decision hasn't been notified.
Between April and October in 2013, exports to Vietnam rose 197 per cent in value terms and 100 per cent in terms of quantity compared to a year ago. Vietnam accounts for 40 per cent of exports.
“The prime reason for the rise is demand from China; more significant, the offal prices have risen fast,” said Munazza Shaikh, director of Juhi Enterprises.
China is the largest consumer of buffalo offal, not consumed here. In two months, prices rose 65 per cent in the global market, from $700 to $1,150 a tonne. Offal exports make 30 per cent of buffalo-meat exports.
Between April and October in 2013, buffalo-meat exports rose 46 per cent (in value terms) to $2,361 million compared to a year ago, according to the Agricultural and Processed Food Products Export Development Authority.
In terms of quantity, there was a 23 per cent rise. Exports are set to cross $4 billion in 2013-14 against $3.19 billion a year ago.
Global prices increased from $3,400 a tonne to $3,700 a tonne in a year, exporters said. “In the next few years, we expect India to be the world’s largest exporter,” said Rizwan Shaikh of Al Shirin Exports.
The impact of exports is visible in the domestic markets, with local prices soaring 10-15 per cent in a year.
“With the new regulations on export of buffalo meat only from approved slaughter houses, it was believed the prices would ease. But the prices have gone up, primarily on hoarding and illegal export,” said Monammed Aher, chairman and managing director, Azan Group.
The meat has emerged as the second-highest agro-export commodity after basmati rice.
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