STAFF REPORT ISB: Although Pakistans halal sector is still under-performing, the country is set to become one of the active players in the global meat trade, at least in the Middle East and Southeast Asia.
The sector is slowly striving to create a niche for itself in the highly competitive global market which could be worth up to $1.6 trillion by 2018.
Pakistans halal meat exports rose to $230.2 million during FY14, showing a 9pc increase, compared to $211.1 million in FY13, following promotional steps taken by the government, including a ban on commercial export of live animals.
About 80pc of Pakistans meat exports go to the Middle East and Gulf countries, major destinations being Saudi Arabia and the UAE. The other potential markets for Pakistani meat are the Asia-Pacific region, North-Africa and the Far East.
Pakistan ranks 22nd in the world in the export of halal meat, however, more than half of its meat exports consist of beef. Today, Pakistan is the 9th largest producer and consumer of beef.
As far as the Middle East is concerned, a major advantage that Pakistan has is proximity to the region than any of its rivals, Australia, Brazil and India, who pay higher shipping costs.