What’s the Indian market for?
The market for Indian beef has been volatile since it was banned in December last year, after which it has surged on social media to rival that of the US market.
According to the market research company IndiasMarket, the average price of an average Indian beef burger, topped by the beef from Patna, has risen by 5.5% in the past six months, to reach $3.26 per kilogram.
This has helped fuel the demand for Indian-made beef, with the market growing by more than 10% since the ban.
“The demand for beef in India is strong.
It is being used in a number of different dishes and is used in many different ways,” said Preeti Shrestha, co-founder of IndiasMarket.
The demand is also being met by a large portion of the Indian diaspora who are seeking to increase their beef consumption, said Shresta.
Shresta said that the beef that is being sold in restaurants and food markets is produced in small, medium and large scale factories in Uttar Pradesh, Rajasthan, Bihar, Maharashtra and Delhi.
The company also reported that in July-September, a total of 1,400,000 tonnes of beef were exported from India to the US.
The growth in Indian beef consumption in the last six months has helped offset a decline in the price of beef in the US over the past 12 months.
However, there are also fears that the market could fall further due to the government’s announcement of a ban on domestic production of beef.