India tops in Beef export: US-DoA
As per recently released data by US Department of Agriculture (DoA), India has emerged as world’s largest exporter of beef.
India has retained its top spot as the world’s largest exporter of beef. It should be noted that in this data of US-DoA has even considered buffalo meat (known as caeabeef) as beef because India does not export cow meat.
- India tops in export of beef and it is followed by Brazil and Australia at second and third spot respectively.
- According to the data, India exported 2.4 million tonnes of veal and beef in FY-2015, while Brazil exported 2 million tonnes and Australia exported 1.5 million tonnes.
- These top three beef exporting countries account for around 58.7 per cent of over all the beef exports in the world.
- India accounted for 23.5 per cent of global beef exports in FY-2015 compared to 20.8 per cent share in FY 2015.
India’s beef export
- India’s buffalo meat is usually exported to Asian countries and it accounts for more than 80 per cent of overall export share, while African countries account around 15 per cent share. In Asia, Vietnam is the largest importer of Indian buffalo meat with at 45 per cent import share.
- Since 2011, India’s buffalo meat exports have grown at an average of nearly 14 per cent each year. India has fetched around 4.8 billion dollars in 2014 and it was the first time it had earned more from the export of buffalo meat compared to the Basmati rice.
Reasons for boom in Beef export
- Increase in global prices of beef. It has rose by 71 per cent globally.
- Increase in demand for beef from China.
- Increase of carabeef demand from industries for large scale product compared to direct household consumption.
Categories: Business & Economy Current Affairs 2017