India is the third largest exporter of beef after Brazil and Australia and accounted for 16 per cent of all the beef exported globally, according to a report by the United Nations Food and Agriculture Organisation and the Organisation for Economic Cooperation and Development.
India exported 1.56 million tonnes of beef in 2016 and is expected to maintain its position as the third-largest beef exporter till 2026 by exporting 1.93 million tonnes that year, the OECD-FAO Agricultural Outlook 2017-2026 report revealed.
The OECD report did not specify whether the exports were of cow or buffalo meat, but the beef exported appeared to be majorly from buffaloes as the report also specified the animal for imports by Myanmar and Vietnam.
The volume of beef exports have plummeted during this fiscal year by about 10 million tonnes, largely due to the recent crackdown of illegal abattoirs across the country.
The Indian cattle market is the booming $4 billion industry, but the current new rules implemented by the government have left a major impact on the world beef markets. India, until 2015, was accounting for 20 per cent of the global beef export and given the current situation, it is highly likely that the cattle industry will take a big hit and in process will create an enormous shortage out in the market.
The situation was well reflected in the report released by the Agricultural and Processed Food Products Export Development Authority (APEDA) in April, where it showed the exports of beef dropped by 10.35% to $257.06 million compared to $287 million in the same month last year.
India also imported 3,63,000 tonnes of beef in 2016, according to OECD report. The report also projected that the total world beef export will increase to 12.43 million tonnes by 2026.