Vietnam's low demand for beef crashes the Indian industry
Vietnam, the largest market for Indian beef, has limited its demand and that reflects clearly in the figures of Indian beef exports. Beef exports were valued at $3.17 billion in 2020-21 compared with $3.2 billion in 2012-13, according to trade data published by the department of commerce.
For several years, Vietnam ranked as the top market for Indian beef exports, reaching a peak of 55% in 2017-18 from 28% in 2017-18%, while in value terms, it swelled to 57% from 29% during this period.
Vietnam now accounts for about 11% in volume terms and 13% by value, according to data published by the Agricultural and Processed Food Products Export Development Authority. The fall in exports to Vietnam was offset by an increase in exports to other destinations, and that prevented a big fall in trade volume and value in 2020-21.
The US Department of Agriculture estimates that India’s share in world beef exports by volume fell from 21 percent in calendar year 2014 to 12 percent in 2020.
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