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Buffalo meat exports likely to grow 50 Percent in Five years, says ICRA

A report from credit rating agency ICRA shows that India’s annual buffalo meat exports will touch the Rs 40,000 crore mark in the next five years, compared with Rs 26,682 crore in FY16

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Uttar Pradesh accounts for the highest share of the total buffalo population. Image Source: Wikimedia Commons
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  • A report from credit rating agency ICRA shows that India’s annual buffalo meat exports will touch the Rs 40,000 crore mark in the next five years, compared with Rs 26,682 crore in FY16
  • In the last 8 years, India’s buffalo meat exports have recorded CAGR of 29 per cent, rising from the Rs 3,533 crore-level in FY08
  • For the last two years, buffalo meat has been the highest agri-related export from India and its contribution to the total exports revenue has almost doubled to 1.56 per cent in FY16, from 0.76 per cent in FY11

Buffalo meat exports from India are likely to grow by 50 percent over the next five years, thanks to growing demand. A report from Investment Information and Credit Rating Agency of India shows that India’s annual buffalo meat exports will touch the Rs 40,000 crore mark in the next five years, compared with Rs 26,682 crore in FY16. This means compounded annual growth rate (CAGR) of 8 percent.

In the last 8 years, India’s buffalo meat exports have recorded CAGR of 29 per cent, rising from the Rs 3,533 crore-level in FY08. “While India has been exporting buffalo meat for almost two decades, the industry has gained momentum only in the last decade. This can be attributed to multiple factors like increasing demand from developing countries (like China, Vietnam, Thailand, etc), slaughtering method meeting the religious requirements of certain ethnicities, price competitiveness, high buffalo population, and low domestic consumption,” said Sabyasachi Majumdar, senior vice president — corporate sector rating, Icra.

Within India, Uttar Pradesh accounts for the highest share (28 percent) of the total buffalo population and has also emerged as the leading buffalo meat producer — housing around 60 per cent of the total standalone slaughter houses, standalone meat processing units and fully-integrated meat processing units.

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India’s buffalo meat exports account for around 20 percent of the world’s total buffalo meat/beef exports (in volume terms), making it the largest exporter, overtaking Brazil and Australia.

India by and large exports only buffalo meat, compared with other countries which primarily export beef. This growth has been driven both by volume expansion (CAGR of 13 percent) and an increase in realisations (CAGR of 13 per cent). For the last two years, buffalo meat has been the highest agri-related export from India and its contribution to the total exports revenue has almost doubled to 1.56 per cent in FY16, from 0.76 per cent in FY11.

Buffalo meat sold in tin boxes. Image Source: Wikimedia Commons
Buffalo meat sold in tin boxes. Image Source: Wikimedia Commons

The buffalo meat industry is largely unorganised and only moderately regulated. It also remains vulnerable to risks pertaining to social and political sensitivity, sustainability of buffalo population, disease outbreak and high competition from global beef industry (this was evident in FY16 when the buffalo meat exports from India declined for the first time in almost a decade as depreciation of Brazilian currency made Brazilian beef cheaper).

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Additionally, there is considerable scope for improvement in the industry infrastructure, which lags the standards of some of the major global beef exporting countries. However, the government is addressing these challenges by focusing on improving industry infrastructure through direct as well as private sector participation, the rollout of schemes to sustain the availability of buffaloes for slaughtering and developing a wider regulatory framework to ensure quality control.

“In the long term, buffalo meat exports are likely to continue to report healthy growth, driven by improving infrastructure, a sizeable buffalo population, a relatively lower price of Indian buffalo meat, and steady demand in the international market,” said Majumdar. (IANS)

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  • Kabir Chaudhary

    Buffalo meat is a commodity which is available in various countries but only the select few have the proper machinery and technique to process the meat. India is one of the leading exporter of buffalo meat around the world.

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  • Kabir Chaudhary

    Buffalo meat is a commodity which is available in various countries but only the select few have the proper machinery and technique to process the meat. India is one of the leading exporter of buffalo meat around the world.

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Twitter Takes Multiple Steps To Curb Misinformation Before Elections in India

More than 80 per cent of the Twitter accounts linked to spread of disinformation

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Twitter, tweets, India
The Twitter logo appears on a phone post on the floor of the New York Stock Exchange.. VOA

Twitter is taking “multi-variable” steps, including the use of Artificial Intelligence (AI) tools, to curb the spread of misleading information on its platform ahead of 2019 general election in India, Co-Founder and CEO Jack Dorsey said here on Monday.

Addressing a Town Hall-style meeting at the Indian Institute of Technology-Delhi (IIT-D), Dorsey said fake news is a way too big category.

“The real problem is not misinformation per se as jokes can also be categorised as misinfomation. But misinformation that is spread with the intent to mislead people is a real problem,” stressed the Twitter CEO who is in India on a week-long maiden visit.

Dorsey, who got a rousing reception at IIT-D with the students wildly cheering the young entrepreneur, likened solving the problem of misleading information to that of addressing a security issue, or building a lock.

Twitter, India
Twitter Chief Executive Officer Jack Dorsey testifies before a Senate Intelligence Committee hearing on foreign influence operations and their use of social media on Capitol Hill. VOA

“No one can build a perfect lock, but we need to stay ahead of our attackers. AI could probably help,” Dorsey told the audience.

Earlier in the day, the Twitter CEO met Congress President Rahul Gandhi and discussed various steps the social network was taking to curb the spread of fake news and boost healthy conversation on its platform.

Dorsey also met Tibetan spiritual leader the Dalai Lama over the weekend. He was also expected to meet Union IT Minister Ravi Shankar Prasad in the wake of the growing criticism over Twitter’s role in the spread of misinformation and fake news as India faces Assembly polls in five states in November-December ahead of next year’s general elections.

Twitter, India
Twitter on a smartphone device. Pixabay

Twitter, along with other social media platforms, including Facebook, came under intense scrutiny of policymakers in the US for their failure to stop the spread of misinformation by Russia-linked accounts on their platforms during the 2016 Presidential election.

The micro-blogging site since then has stepped up its efforts to curb the spread of divisive messages and fake news on its platform.

To further protect the integrity of elections, Twitter recently announced that it would now delete fake accounts engaged in a variety of emergent, malicious behaviour.

India, elections
India’s Prime Minister Narendra Modi gestures as he addresses the gathering during the ‘Global Mobility Summit’ in New Delhi, India, VOA

As part of the new rules, accounts that deliberately mimic or are intended to replace accounts that were previously suspended for violating rules may be identified as fake accounts, Twitter said recently.

Also Read: Twitter Giving Its Users More Freedom to Report Fake, Suspicious Accounts

However, according to a Knight Foundation study released in October, more than 80 per cent of the Twitter accounts linked to spread of disinformation during the 2016 US election are still active. (IANS)