The worldwide marketplace for halal licensed merchandise is about to just about double by 2030 and Australian exporters are in prime place to revenue after latest commerce negotiations, officers say.
Key factors:
- The worldwide halal market is projected to value $7 trillion by 2030
- A brand new market in Malaysia has opened for Australian halal exports
- Seventy-one per cent of all sheep meat in Malaysia is from Australia
Exporters are set to achieve larger entry to Malaysia’s quickly rising meals sector, which imports greater than $190 million value of halal licensed Australian sheep meat per yr, accounting for 71 per cent of all sheep meat within the nation.
The brand new export alternatives comply with the the signing of a memorandum of understanding between the Australian Commerce and Funding Fee (Austrade) and Malaysia’s Halal Improvement Company.
Austrade Senior Commerce and Funding Commissioner to Malaysia and Brunei Paul Sanda stated Australia’s exports of products and companies to Malaysia totalled roughly $10 billion in 2020.
“With rising disposable incomes and a need for high-quality services and products, there are rising alternatives for Australian companies in Malaysia and past,” he stated.
“The ASEAN area is residence to round 240 million Muslims and globally the halal market is projected to extend from its present worth of $4 trillion to $7tn in 2030.”
Australia a ‘prime’ exporter
Islamic Coordinating Council of Victoria head of Shariah Affairs Bekim Hasani stated Australia exported greater than $2.36b value of meat in 2021.
“Halal means every part that’s lawful and permissible in response to spiritual scripture, however it’s not simply restricted to Muslims,” he stated.
“With different meat, the animal must be slaughtered in a halal method — the animals have to be shocked previous to slaughter they usually use very sharp knifes so the animals do not feel any ache.”
Dr Hasani stated most abattoirs in Australia have been halal licensed and required the presence of a Muslim supervisor.
“[Organization of Islamic Cooperation] international locations like Malaysia and Indonesia, they import meat and dairy merchandise from Australia as a result of it is not simply halal that is essential, but additionally meals security requirements,” he stated.
“Australia is likely one of the prime international locations on the planet that export dairy merchandise and crimson meat to Muslim international locations, on prime of Brazil, Argentina and India.”
Extra markets to open
Mr Sanda stated strengthening ties with the Malaysian market would additionally open up extra export entry to areas like Indonesia and the Center East.
“Australian beef and sheep meat exports, additionally our cereals, juices and dairy – simply to call just a few – are actually welcome in Malaysia,” he stated.
“In Malaysia we’re additionally seeing actually rising curiosity from beauty and skincare producers, complement producers, to look actually intently at certification due to the peace of thoughts halal certification brings to Muslim shoppers in these markets.”
The memorandum helps the Australian authorities’s $72.7 million Agribusiness Enlargement Initiative to assist the agriculture sector’s ambition to extend the worth of farm gate output to $100 billion by 2030.
