The article published by Salaam gateway discussed about adverse impact of the last pandemic, supply chain breaks, climate change challenges to the food security system in Muslim countries who particularly suffered from climatic conditions.
The article invokes research and advisory firm Dinar Standard’s Report on State of the Global Islamic Economy in 2022 that stated increase in food expenditure of Muslim countries to 7% amounting $1.27 trillion this year and reaching 7.1% by 2025.
Article further examines some significant merger, acquisition and investments in the halal food sector of the MENA region, partly induced by focus on localized farming, food processing and manufacturing development. Non-Muslim majority countries are also facing booming in halal food sectors, ingredient producers and halal fast food retails.
The article draws attention to new opportunities that pandemic created as the food manufacturing and supply chain was restructured, consequently states tend to rely more on national producers and strengthening of regional food security strategies. Enhancing intra-OIC trade deals and inter-state collaboration will eliminate trade barriers, import tariffs and create opportunities for more equitable food distribution.
The report mentioned that being proactive for OIC in mutual trade agreements is crucial, intra-OIC trade underrepresented in the global trade and estimated only 20% in total. In this regard, the OIC enhancing ties with Islamic Organisation for Food Security (IOFS) is significant, and includes implementing 16 food security programmes.
You may read a full original article though the link: https://salaamgateway.com/story/sgie-2022-report-halal-food
