Wait...
  1. Home >
  2. Export Import News >
  3. Export Business News >
  4. India buffalo meat exports to reach Rs40,000 crore in 5 years: Icra >
  5. India buffalo meat exports to reach Rs40,000 crore in 5 years: Icra

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

India buffalo meat exports to reach Rs40,000 crore in 5 years: Icra.


Date: 12-08-2016
Subject: India buffalo meat exports to reach Rs40,000 crore in 5 years: Icra
New Delhi: India’s earnings from exporting buffalo meat will touch Rs.40,000 crore in the next five years from Rs.26,682 crore in 2015-16, Icra Ltd said on Thursday.

Increasing demand from developing economies, high population of buffaloes in India and the ease of slaughtering buffaloes unhindered by religious sentiments have fuelled the growth of this export item, Icra said, adding, buffalo meat exports grew at a compounded annual rate of 29%, from Rs.3,533 crore in 2007-08 to Rs.26,682 crore in 2015-16.

According to Icra, India currently accounts for 20% of the world’s total buffalo meat and beef export volume, and became the largest exporter by quantity overtaking Brazil and Australia in 2015-16. In the last two years, buffalo meat was India’s largest grossing farm export item contributing 1.56% to total export revenues, which doubled from 0.76% in 2010-11.

However, unlike other countries which primarily export beef, India exports buffalo meat. Culling of cows for meat is largely banned in India.

“The buffalo meat industry is largely unorganised and fragmented and only moderately regulated,” Icra said, adding, “it also remains vulnerable to risks pertaining to social and political sensitivity, sustainability of buffalo population, disease outbreak risk and high competition from the global beef industry.”

Within India, Uttar Pradesh accounts for the highest share of buffalo population at 28% and is the leading meat producing state.The state is home to 60% of slaughter houses and meat processing units in the country.

“In the long term, we expect buffalo meat exports to continue to report healthy growth, driven by improving infrastructure, a sizeable buffalo population the relatively lower price of Indian buffalo meat, and steady demand in the international market,” said Sabyasachi Majumdar, senior vice-president, corporate sector ratings at Icra.

Data from government reports show the changing pattern of livestock ownership in India, likely driven by the fact that farmers prefer to rear buffaloes instead of cows, due to higher milk yields and ease of culling, providing full economic value of the animals.

According to Livestock Census reports, between 2007 and 2012, India’s buffalo numbers rose 3.2%, from 105.3 million to 108.7 million, while overall cattle population declined by 4.1%, from 199 million to 191 million. Among cattle, growth of indigenous cattle fell 8.9%, while that of exotic and cross-bred varieties rose by more than 20%, the data shows.

Source : livemint.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 06-07-2020
Notification No. 29/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, to increase the rate of duty of customs on imports of Phthalic Anhydride originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement, on recommendation of preliminary findings of Directorate General of Trade Remedies under India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017.

Date: 02-07-2020
Notification No. 55/2020 - Customs (N.T.)
Exchange Rates Notification No.55/2020-Custom (NT) dated 02.07.2020.

Date: 01-07-2020
Notification No. 58/2020 – Central Tax
Seeks to make eighth amendment (2020) to CGST Rules

Date: 30-06-2020
Notification No. 54/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 30-06-2020
Circular No.31/2020-Customs
Extension of validity of AEO certification for ease of renewal process (Modification in Circular No. 27/2020 dated 02.06.2020) [Circular No. 31/2020 - Customs dated 30.06.2020].

Date: 30-06-2020
PUBLIC NOTICE No. 11/2015-2020
Extension of validity of Recognition of Pre-shipment Inspection Agencies (PSIAs

Date: 30-06-2020
Notification No. 57/2020 – Central Tax
Seeks to amend notification no. 52/2020-Central Tax in order to provide conditional waiver of lat fees for the period from July, 2017 to July, 2020.

Date: 29-06-2020
Trade Notice No. 17/2020-2021
Procedure and Criteria for submission and approval of applications for export of PPE Medical Coveralls for COVID-19

Date: 27-06-2020
Notification No. 55/2020 – Central Tax
Seeks to amend notification no. 35/2020-Central Tax in order to extend due date of compliance which falls during the period from "20.03.2020 to 30.08.2020" till 31.08.2020.

Date: 27-06-2020
Notification No. 56/2020 – Central Tax
Seeks to amend notification no. 46/2020-Central Tax in order to further extend period to pass order under Section 54(7) of CGST Act till 31.08.2020 or in some cases upto fifteen days thereafter.



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001