950817

Annual world

trade in halal

food worth

$81 bn

SINGAPORE: World trade in Muslim halal food is worth an annual US $81 billion and growing rapidly as new markets emerge and the Muslim population increases, a conference here was told on Thursday.

Muslim-dominated countries are not the only ones that offer business opportunities for halal food, said Tay Tham Peng, a Singapore Trade Development Board director.

"There are also emerging markets for halal food in other countries like China, the United States, the European Union and Singapore," Tay told the third International Halal Food Conference.

Although the United States accounts for $six billion of the world halal food market, the largest importer is Saudi Arabia with Egypt, Malaysia, Iran and Algeria following behind.

Tay told Singaporean halal-food manufacturers to tie up with overseas partners to invest in big markets such as China, whose estimated Muslim population numbers 107 million.

Islamic experts, food manufacturers and distributors are attending the two-day conference, to discuss business opportunities, manufacturing practices and the standardisation of halal food certification.-AFP