5720
Small Share of Halal Market
Economy, Domestic Economy

Small Share of Halal Market

The share of Iran in the 2-trillion-dollar Halal market stands at $5 million to $6 million, according to Abolhussein Fakhari, the secretary general of Global Halal Institute. Fkhari told IRNA on Friday that the figure suggests that the country has not been able to obtain a fair share of the world trade of halal products, while the majority of Iranians are Muslim and 100 percent of the country’s food consumption and products are Halal. The official noted that Iran currently has almost no share in this big food market. “A 10 percent of the total halal market, means $200 billion,” Fakhari said. He complained about the lack of a tax break as the main reason behind the low rate of halal exports. The Iranian halal food market is expected to be worth $1.6 trillion globally, by 2018.  With an average growth rate of 6.9 percent a year, the halal food market cannot simply be ignored, Fakhari said. Derived from the holy Quran, the word ‘halal’ literally means ‘lawful’ or ‘acceptable’. Products like swine or pork and its bi-products, and animals that are not properly slaughtered or die before slaughtering are not considered halal in Islam.

Short URL : http://goo.gl/Vhdt4b

You can also read ...

Iran Receives First Round of Post-Sanctions Finance From European Banks
In what were the first finance deals clinched with cautious...
Indian Bank to Extend $150m for Chabahar Development
Iran is expected “very soon” to approach India’s Exim Bank...
TEDPIX soared by 3,459 points or 4.2% during the sixth month of the year–the highest monthly rise recorded so far this year.
Tehran Stock Exchange’s primary index TEDPIX gained 8,346.3...
68% of Non-Oil Exports Headed to 5 Countries
China, Iraq, the UAE, South Korea and India imported 68.7% of...
Gold Coin Hits 3-Week Low
Gold coin prices are modestly down and hit a three-week low in...
The world’s 67 steelmakers produced 1.21 billion tons of crude steel during the eight months, up 4.9% YOY.
Iranian steel mills produced 13.44 million tons of steel from...
Flat Steel Import Market Cools as Domestic Prices Drop
Import prices for flat steel materials cooled down in Iran in...
51.5% Rise in University Graduates
The findings of the most recent National Population and...

Trending

Googleplus