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Brazil eyes $1.17 trillion halal food market, keen to boost farm trade with Islamic world -official -Breaking

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© Reuters. FILEPHOTO: A shop selling chickens is seen with cages August 18th, 2017, in Sao Paulo. REUTERS/Paulo Whitaker/File Photograph

Ana Mano

SAO PAULO (Reuters – Brazil is the biggest exporter of food products like beans, coffee and beef in the world. Flavio Betarello, vice trade secretary at Brazil’s Agriculture Ministry said that Brazil wants to boost exports to Islamic nations.

Bettarello, speaking at the Global Halal Brazil Business Conference in Sao Paulo, said Monday that Bettarello had spoken to delegates to tell them the country is currently in negotiations with Lebanon, Indonesia, and Morocco for increased access to those markets, and to sell other agricultural products than corn, beef and chicken.

Bettarello stated that there is concern about the export types and destinations.

According to data collected by the Arab Brazil Chamber of Commerce in 2020, $190.5 billion worth of food was imported into OIC (which has 57 member countries). This includes wheat, corn and sugar as well as milk and dairy products. The data revealed that Brazil was responsible for $14.1 billion of this total.

Bettarello stated that Brazil exports about 50% to OIC nations, with the rest going to five countries. The biggest importers in the group were Bangladesh, Turkey, Iran and Indonesia.

Brazil will continue to seek new markets for its products and diversify their sales, he said. He also cited Egypt’s recent commercial agreement.

Brazil is seeking a larger share in the world’s food trade.

Already, the country is the largest exporter and producer in the world of halal meats such as beef and chicken. These products are made according to Muslim dietary needs.

According to the highly cited State of the Global Islamic Economy Report, Muslims spent $1.17 trillion in 2019 to purchase food. According to this report, Muslims will spend an estimated $1.38 trillion on food by 2024.

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