All finance news

Buffalo meat exporters peg lockdown loss at Rs 5,300 crore

0 1

NEW DELHI: Buffalo meat exports have suffered a loss of Rs 5,300 crore since the lockdown began in March, an industry association said on Friday. “Opening of the exporting units will help the sector,” said Fauzan Alavi, spokesperson for All India Meat & Livestock Exporters Association.

While export units in north India have started reopening, the trade has requested Maharashtra and Telangana governments to allow them to reopen offices and factories.

“Everyone is waiting for processing units and offices in Maharashtra to open. This will streamline the finance, shipping, and sales offices, too, of exporters,” Alavi said.

Processing units in Uttar Pradesh, Punjab and Bihar have started functioning, he said.

India exports 100,000-120,000 tonnes of buffalo meat valued at Rs 20,000 crore in a year.

Shakir Hussain Qureshi, managing director of Mumbai-based Al-Quresh Exports, said authorities in Maharashtra were not allowing workers to go to factories. “We expect more relaxations after June 8, which will help the industry,” he said.

“If the units open by next week then we can start exports from June 20,” Qureshi said, adding that there was demand for buffalo meat in the Middle East and Southeast Asian countries.

An Uttar Pradesh-based exporter said animal markets in rural areas are still shut. Most exporters are talking to farmers and middlemen to get direct supplies, the person said on condition of anonymity.

Source: indiatimes.com

Leave A Reply

Your email address will not be published.

two + eight =