India’s bovine meat exports fell to $4 bn in FY16

India’s bovine meat exports fell to $4 bn in FY16

India’s bovine meat exports fell to $4 billion in 2015-16 due to import restrictions by China

The Dollar Business Bureau

Due to import restrictions by China and conflicts in some importing markets, India’s exports of bovine meat fell in 2015-16. During the last fiscal, bovine exports dropped to $4 billion compared to $4.78 billion in 2014-15 and $4.35 billion during the year 2013-14.

“During the April-February period, exports of buffalo meat went down by 15 percent to $3.74 million from $4.41 billion in the corresponding period last year,” said Nirmala Sitharaman, Minister of State for Commerce and Industry in a reply to the Rajya Sabha.

“There has been a decline in bovine meat exports in 2015-16, due to imports restriction by China through Vietnam, erosion of price competitiveness due to reduction of Brazilian currency and unrest in import markets like Syria and Yemen,” she added.

The Minister said that the government is taking several steps to enhance the exports of meat and its products.

According to a data by the US Department of Agriculture (USDA), India was the world’s largest exporter of beef in 2015, followed by Australia and Brazil.

According to the USDA, India exported 2 million tonnes of beef in the financial year 2015, compared to 1.8 million tonne by Australia and 1.65 million tonnes by Brazil. These three countries combined account for more than 56 percent of the total beef exports in the world. India itself recorded more than 20 percent of global beef exports.

The data from Centre for Monitoring Indian Economy (CMIE) highlights that most exports of buffalo meat from India go to Asian nations — around 80 percent, whereas Africa receives around 15 percent. Within Asia, Vietnam is the largest recipient of India’s buffalo meat.

The Dollar Business Bureau - May 12, 2016 12:00 IST