South Korean processed food companies and farmers are increasing efforts to tap into the rapidly growing global halal market. According to data by the farm ministry, shipments of food and agrofisheries products to Muslim countries belonging to the Gulf Cooperation Council (GCC) moved up 5.9% year-on-year to USD 339 million in the January-November 2015 period.
From 2010 through 2014, halal exports rose a solid 69.3%, outpacing the 51.5% growth in farm and food exports for the country overall. Besides the GCC countries, exports to Indonesia, Malaysia and Iran have all risen significantly. “With the global Muslim population on the rise, the possibility for growth is limitless,” an official at CJ CheilJedang said.
Source: asian agribiz