Pakistani private listed firm named Organic Meat has been awarded approvals and registration from China to export heat-treated beef.
“The Organic Meat Company has received approval and has been granted registration by the Chinese Customs authorities for export of heat-treated meat China,” announced Company Secretary Abdul Qadir in a notification sent to the Pakistan Stock Exchange (PSX) on Friday.
The company has established the heat treatment process to which foot and mouth disease virus can be removed from beef meat,” the company said. “This process will enable us to access more markets for value-added meat products.”
China is one of the world’s largest beef consumers and that imports half a million tons annually to reduce the gap in demand and supply. In February 2021, it imported meat worth $2.21 billion that is 10% higher as compared to last year. This is a great opportunity for Pakistani business entities to take benefits from exports to China.
Pakistan’s meat corporations have been enhancing their exports in the recent period to totally different areas. According to the Pakistan Bureau of Statistics, Pakistan’s meat and meat preparation exports stood at only $216.2 million in the first eight months (Jul-Feb) of the current fiscal year. They rose 2.6% compared to exports of $210.73 million in the same period of the previous fiscal year. In Feb 2020, Malaysian authorities also approved two Pakistani establishments for exporting meat and its allied products to Malaysia.
View more for the latest updates
The exports of meat and meat merchandise by Pakistan is steadily increasing due to the adoption of new technologies and excellent quality. March this year, Pakistan exports are increased to $2.3 billion, It is the monthly highest in last ten years.
According to data from market research and corporate management consulting company Coherent Market Insights, the global Halal food market was valued at $715 billion in 2018 and is expected to grow at a CAGR of 12.7 percent in the coming years (2019-2027).
Pakistan has a considerable share of the Halal market and is in a good position. Thus, there is a need to establish Halal meat processing zones as well as ensure animal vaccination. Currently, Pakistan’s meat is mainly being exported to Gulf countries, UAE, Saudi Arabia, Kuwait, and Bahrain, Vietnam, and Malaysia.
Comments 1