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Market, Consumer Behavior Study Key To Halal Success

News From : DagangHalal.com (13 Mar 2009) 

A good policy needs a good master plan and implementation strategy and programme. Policy needs such as science and scientific application cannot resolve all problems in entering the global Halal market. Economics and business elements such as market knowledge, consumer behavior knowledge, and knowledge on regulatory framework in the export markets are key factors to be considered to take the Brunei Halal industry forward. As Brunei Halal Brand’s policy is already launched, the most pressing issue now is how the master plan and the most effective implementation level can be attained. While adding the master plan must encompass the reality of today’s Halal food market in different regions or countries and consumer behavior. Mr Irfan Sungkar and Professor Dr Pazim Alias Fadzim Othman, who teach in the Department of Development Studies under the faculty of economics and administration at the University of Malaya said, that the global trade in Halal products is growing and passing country boundaries in a magnitude never seen before since the last decade. They said globalisation of the Halal food industry’s supply chain creates opportunities for Brunei to tap into the global Halal food market, based on superiority of production factors that Brunei has. Halal food industry is not a ‘single’ market. It is a fragmented market where every country or region has its own characteristics. Thus, the one size fits all strategy cannot, and will not work. Speaking on the position of the Muslim countries, Mr Irfan said, 50 out of 57 OIC member countries are dependent on imported Halal meat products. Their studies have also found that over the period of 20 years, the dependency has increased and the trade deficits in food products are also on the rise. They provided an example where in Malaysia the Halal meat and meat-based products trade deficit has grown from about RM150-200 million in 1998 to more than RM1.1 billion in 2007. The elements behind this growth is a ‘Super-Production’ by large exporting countries; rise in disposable incomes in the (consumers of) importing countries; increase in awareness level and; Islamic countries have become the largest food importers. Reference: BruDirect.com Courtesy of Borneo Bulletin By Sonia K. http://www.brudirect.com/DailyInfo/News/Archive/Jan09/09/nite01.htm

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